CCLF has partnered with U.S. Bancorp Community Development Corporation (USBCDC) and other Community Development Financial Institutions (CDFIs) to support and grow the number of developers led by people of color.

Through its new U.S. Bank Access to Capital: Collaborating to Invest in Developers of Color, USBCDC has awarded $250,000 total in grants to three CDFIs—Capital Impact Partners, Enterprise Community Loan Fund and CCLF—to be used to provide technical assistance to developers of color. The three CDFI recipients are long-term partners of USBCDC—the tax credit and community development subsidiary of U.S. Bank—and each already provides technical assistance and financing for developers of color. 

The initiative is part of U.S. Bank Access Commitment, the bank’s long-term program to build wealth while redefining how the bank serves diverse communities and provides more opportunities for diverse employees. “The intent is to build capacity and help more individuals of color become developers, assist organizations led by people of color in developing their first real estate project, and provide existing developers of color opportunities to increase their experience and skills,” said Zack Boyers, USBCDC President and CEO. “We’re starting with these three CDFI partners and will expand opportunities for funding to others in future years.”

“This grant from U.S. Bank aligns with CCLF’s strategic initiative to build wealth for smaller real estate developers of color,” said Calvin L. Holmes, CCLF President. “The funding will allow us to tailor technical assistance to the unique needs of these entrepreneurs so their projects can create larger social impact in their neighborhoods.”