Helping create communities where people thrive.
In 1966, at the height of the Civil Rights Movement, Rev. Dr. Martin Luther King, Jr. turned his attention toward Northern cities to expose the social injustices presumed to only exist in the South. His focus settled on Chicago. Bringing the movement to Chicago, Dr. King and his family relocated into an apartment on Chicago’s… Read more »
Takeisha Washington, President of RPT Development Group, Inc. (RPT), has a strong relationship with CCLF and together the work of rebuilding Chicago’s neighborhoods continues. RPT is a 14-year-old corporation engaged in acquiring, rehabbing, and sales or lease of often-neglected properties in low- to moderate-income communities. The corporation focuses on residential single-family homes and multi-unit properties,… Read more »
As Chicago Community Loan Fund positions itself for the “new normal” of the post-COVID-19 era, CCLF has implemented a comprehensive four-year strategic plan that will enable the organization to further its mission and better serve Chicagoland’s communities. The four strategic focus areas of CCLF’s 2021-2024 Strategic Plan positions CCLF to expand, partner and invest. CCLF… Read more »
On December 15, 2020, philanthropist MacKenzie Scott announced $4.1 billion in donations to 384 organizations across all 50 states, Puerto Rico, and Washington D.C. Scott and her team undertook a rigorous, data-driven due diligence process to select the 384 donation recipients from 6,490 organizations considered. The organizations were selected based on data analysis on community… Read more »
CCLF’s Wendell Harris, Vice President of Lending Operations, engaged in discussion with The Chicago Citizen newspaper’s Tia Jones for a 30-minute podcast discussing CCLF and our initiatives in Chicagoland’s low- to moderate-income communities. In addition to the podcast, The Chicago Citizen also featured CCLF in a print and online article entitled “Neighborhoods Feel Financial Institution’s… Read more »
Chicago Community Loan Fund in partnership with the City of Chicago released a Developer Request for Qualifications (RFQ) for the Chicago Neighborhood Rebuild Program (CNRP). Through this request, CCLF seeks Developers (including not-for-profit and/or faith-based organizations) with strong experience in rehabilitation and sale of single family and 2-flat properties, and a familiarity with overall South… Read more »
During a year of health challenges and civil unrest, CCLF ended 2020 as an organization better positioned to ensure capital continued to flow in low-income areas throughout Chicagoland. CCLF ended 2020 with nearly $97 million in loans outstanding to 179 customers working to create communities where people thrive. CCLF completed 48 loans totaling $24.2 million… Read more »
As the COVID-19 pandemic ravaged Chicago-area small businesses and nonprofits, CCLF delved into its resolve to support impacted businesses and communities. CCLF became a partner in several public emergency funding initiatives. Together Now: Chicago’s Fund to Rebuild Our Neighborhoods, a collaboration with the Chicago Community Trust and the city of Chicago, raised monies from the… Read more »
Chicago’s Back of the Yards neighborhood is a historic community known as the home of the Union Stockyards. Located on the southwest side of Chicago, this is the neighborhood that author Upton Sinclair wrote about in the 1906 novel, “The Jungle.” After the stockyards closed in the 1970s, Back of the Yards became a community… Read more »
In December 2020, Philanthropist MacKenzie Scott released a blog post entitled “384 Ways to Help” announcing $4.1 billion in donations to 384 nonprofits across the United States, Puerto Rico and Washington, D.C. CCLF was among the 24 CDFIs included in the donations. Scott and her team undertook a rigorous, data-driven due diligence process to select… Read more »
CCLF has been selected to receive an award of $500,000 in unrestricted funds as part of Citi Foundation’s $15 million fund supporting the work of Community Development Financial Institutions. CCLF was among 30 CDFIs awarded nationwide, all selected based on their strong track record of serving small businesses owned by people of color and underserved… Read more »
On December 15, 2020, MacKenzie Scott announced $4.1 billion in donations to 384 organizations across all 50 states, Puerto Rico, and Washington D.C. Chicago Community Loan Fund is honored to be named among the not-for-profits selected for a grant to help people suffering the economic effects of COVID-19, racial inequity, high poverty rates, and limited… Read more »
Wendell Harris, Vice President of Lending Operations at Chicago Community Loan Fund appeared on FOX-32 Chicago December 14, 2020. Harris joined anchors Anita Padilla and Scott Schneider at the 7:30 hour of FOX’s Good Day Chicago morning program. In the segment, Harris explained CCLF’s efforts to support low-income residents struggling to stay afloat during the… Read more »
As the COVID-19 pandemic pervaded the country in early 2020, comingled with social unrest in the wake of civic injustices, CCLF resolved to persevere and continue providing financing and technical assistance that benefit low- to moderate-income communities throughout metropolitan Chicago. Thanks to the extra efforts of its funders and investors CCLF has been able to… Read more »
In September, Landmarks Illinois announced nine recipients of the 2020 Landmarks Illinois Richard H. Driehaus Foundation Preservation Awards, which included two CCLF borrowers. The annual awards program honors exceptional historic preservation projects and the people working to save important locations throughout Illinois. Among the winners, the CCLF-funded Aurora Arts Center in Aurora, Illinois, earned the… Read more »
While stay-at-home orders were in place and the city of Chicago’s neighborhoods saw social upheaval following the death of George Floyd, Chicago Mayor Lori Lightfoot announced the launch of Together Now: Chicago’s Fund to Rebuild Our Neighborhoods. In collaboration with The Chicago Community Trust and the city of Chicago, Together Now fund raised money from… Read more »
Watch the virtual meeting here:CCLF’s 2020 Annual Stakeholders Meeting Embracing the digital culture to share its message, CCLF hosted its 2020 Annual Stakeholders Meeting on Tuesday, September 15, in a virtual platform. The production included live reports and video presentations of projects that represent the diverse breadth of CCLF’s financing in 2019. They included: Growing… Read more »
Business in Chicago was forging along in the first quarter of 2020. Then the COVID-19 pandemic hit, and Illinois Governor J.B. Pritzker issued a “stay at home” order for the entire state effective March 21, bringing everything to an abrupt new reality. At that time, when attentions turned toward the preservation of public health and… Read more »
Ed Sommer practiced law as a Financial Transaction Attorney with the Chicago-based firm Chapman and Cutler LLP for 36 years. During the course of his career, he worked on many types of negotiated debt transactions with a variety of different types of borrowers, lenders and credit providers, including Chicago Community Loan Fund. Although now retired,… Read more »
The Federal Home Loan Bank of Chicago (FHLBC) offered a COVID-19 Relief Program consisting of zero-rate advances and grants to support all of its member institutions and the communities they serve as it responds to the COVID-19 pandemic. CCLF, as a member of the FHLBC, submitted an application for Growing Home, Inc., a nonprofit organization… Read more »
On May 6 and May 7, Local Initiatives Support Corporation Chicago (LISC) presented the 26th Annual Chicago Neighborhood Development Awards (CNDA) for the first time as a virtual event. Three CCLF borrowers were among this year’s award recipients. Accion and the Industrial Council of Nearwest Chicago earned The Richard H. Driehaus Foundation Award for Outstanding… Read more »
Chicago Community Loan Fund (CCLF) has been named administrator of the Cook County Community Recovery Fund, part of the Cook County Bureau of Economic Development’s Community Recovery Initiative. This fund is open to certain small businesses, “gig” workers and independent contractors located in suburban Cook County (outside the boundaries of the City of Chicago). Loans… Read more »
CCLF is working in partnership with local government to urgently get capital to small businesses and contractor workers through the Cook County Community Recovery Fund. Cook County Board President Toni Preckwinkle, CCLF President Calvin L. Holmes, and CCLF Chief Operating Officer/Executive Vice President of Programs Bob Tucker made the announcement Tuesday, April 7, 2020. This… Read more »
RPT Development Group, Inc. and Takeisha Washington are working hard to reshape Chicago’s affordable housing landscape. Washington, President of RPT Development, has a strong relationship with CCLF and has played an integral role in helping to rebuild and restructure Chicago’s neglected neighborhoods. Established in 2007, RPT Development is dedicated to the identification, acquisition, rehabilitation and… Read more »
The Mark Twain Hotel, a landmark property in Chicago’s Gold Coast neighborhood, reopened with much celebration March 6. Hosted by The NHP Foundation, the property’s reopening was celebrated with a ribbon-cutting ceremony attended by Chicago Mayor Lori Lightfoot, 27th Ward Alderman Walter Burnett, Jr., 48th Ward Alderman and Chairman of the city’s Committee of Housing… Read more »
On a frosty day in February, the Village of Maywood was the site of renewal as local dignitaries, investors, developers and area residents gathered for a “Start of Construction” celebration of the forthcoming Fifth Avenue Apartments. Hosted by developer Interfaith Housing Development Corporation (IHDC), the event lauded the transformation of a long-vacant lot located at… Read more »
As 2019 came to a close, CCLF reflected on a very successful year that saw milestone growth in its operations and social impact. In June, CCLF reached $100 million in total assets and ended the year with $79 million in loans outstanding to 145 customers working to create communities where people thrive. In 2019, CCLF… Read more »
CCLF, in partnership with Chicago TREND, hosted a special event on October 24, 2019, to announce a new investment from Fifth Third Bank designed to finance strategic catalytic commercial development in Chicago. The first borrower supported by this funding is the Lillian Marcie Center for the Performing Arts, a new performing arts center and ancillary… Read more »
Starbucks Coffee Company announced its plans to invest $10 million in four community lenders—CCLF, Accion Chicago, IFF and Local Initiatives Support Corporation (LISC)—to drive economic opportunity in Chicago. Starbucks’ investment is expected to help finance more than 500 loans to foster growth in small business, support community development projects and create more jobs in Chicago’s… Read more »
Despite changing trends and preferences, the science of printing and print production has endured since Gutenberg first introduced the printing press in 1436. The industry continues to flourish in Chicago’s Humboldt Park neighborhood at Salsedo Press, Inc. Established in 1969, Salsedo Press is a minority-owned worker cooperative firm that offers core printing and finishing services… Read more »
Greater Chicagoland Fellowship (GCF) has a mission to provide affordable housing for low- to moderate-income individuals and families and help in revitalization efforts in Lake, DuPage, McHenry, Cook and Will counties. On a balmy morning in September, GCF put the finishing touches on a rehabbed, single-family home in Streamwood, Illinois, sold to a family of… Read more »
Emma’s House celebrated with a ribbon-cutting ceremony on September 28, 2019, announcing the opening of a new resource for women suffering from drug and alcohol abuse in the Austin community of Chicago. Named after Alderman Emma Smith, a staunch supporter of Emma’s House, the facility is a three-story mansion with 7 bedrooms and 5 baths… Read more »
Los Angeles-based CED Food LLC broke ground on its Chicago Prep project in July 2019, bringing Amped Kitchens to Chicago’s Belmont-Cragin neighborhood. Amped Kitchens, located at the former Zenith Electronics site in Belmont-Cragin, will be CED Food’s first location outside California. When completed, Amped Kitchens will offer 7,500 square feet of space with 64 kitchens… Read more »
“Serving Woodlawn for over a century,” Daley’s Restaurant—Chicago’s oldest restaurant—has moved into its new, 21st century home in CCLF/Chicago TREND-financed retail space in Woodlawn Station. A mainstay for 126 years at 809 E. 63rd Street in the Woodlawn neighborhood, Daley’s moved across the street to its 5,900-square-foot space this summer in Woodlawn Station, located at… Read more »
On September 26, 2019, CCLF opened its newly redesigned office and welcomed investors, borrowers, industry colleagues, supporters and friends to join in an Open House and $100 Million Asset Milestone Celebration. The evening included music, food, and engagement inaugurating CCLF’s expanded office space, redesigned to better serve Chicagoland’s communities. Nearly 200 guests joined CCLF’s staff… Read more »
At exactly 8:30 a.m. on an early Tuesday morning in Chicago’s West Loop, positive energy and inspiration broke loose from a group of people and set the tone for a day—and for lives—of impact. It was Motivations, a morning ritual that takes place every Monday through Thursday at Cara—a nonprofit organization specializing in job training… Read more »
A total of 82 investors, funders and supporters joined CCLF on June 13, 2019, for its Annual Stakeholders Meeting at The Federal Reserve Bank of Chicago. The audience gathered to learn more about the mission of CCLF and the work done in the past year to bring equity and change to low- to moderate-income communities… Read more »
Approximately 1,000 area residents, supporters, and art enthusiasts converged on downtown Aurora, Illinois, June 1, 2019, for the official ribbon-cutting and open house of the John C. Dunham Aurora Arts Center. Attendees had a chance to tour the new facilities, participate in sample classes, and meet staff. Located at the corner of Galena Boulevard and… Read more »
Inquiries from across the country have come in wondering how Chicago was able to merge public housing with the public library system. CCLF’s borrower, Evergreen Real Estate Group, did just that when former Mayor Rahm Emanuel sought bids to build public housing on top of a city library. Chicago now boasts three such projects where… Read more »
Chicago Community Loan Fund is committed to Chicagoland. We seek team members equally committed to providing accessible financing, strategic partnership and support to build thriving neighborhoods. Join CCLF’s team! Visit our Careers page and explore our rewarding opportunities.
Customers were in line at 6:00 a.m. waiting for the doors to open and a chance to shop the new Jewel-Osco at 6100 S. Cottage Grove Avenue in Chicago’s Woodlawn neighborhood. “This store makes the whole neighborhood look brighter,” one customer in line said. “I’ll be coming here every day now.” The Woodlawn Jewel-Osco grand… Read more »
The Independence Library and Apartments, located at 3548 W. Irving Park Road, closed due to damage from a fire at the adjacent building in October 2015. Although transient, moving from place to place since the early 1900s, by 2015 the library served seven neighborhood schools within walking distance and was heavily used by area residents…. Read more »
TimeLine Theatre Company has settled on a new home in Chicago’s Uptown neighborhood. CCLF provided $3,600,000 to Timeline Theatre Company for acquisition and predevelopment of a property built in the 1910s for a moving and storage company. The revitalization of this property aligns with TimeLine’s mission of bringing history to life and connecting the past… Read more »
Empowered by a belief that “autism is not a condition, but rather, an intrinsic part of the individual with autism’s self-identity and personality,” Evanston, Illinois-based Rimland Services NFP delivers stability to those whose lives may face challenges. Founded in 1970, Rimland Services is the oldest agency in Illinois that serves the educational, vocational, and residential… Read more »
Bob Tucker, CCLF’s Chief Operating Officer and Executive Vice President of Programs, shared observations and explained CCLF’s role in the revitalization and renewal taking place in Chicago’s Woodlawn community with The Chicago Tribune’s Corilyn Shropshire. Click here to read the complete article, “Making A Comeback,” as seen in the Sunday, March 31, 2019, issue of… Read more »
CLTV welcomed CCLF’s Maurice Williams, Vice President of Economic Development, to discuss CCLF’s current endeavors in the network’s Business Watch segment March 16, 2019. Produced by Chaundanine Oluwole, the complete segment may be viewed here. Chicago Community Loan Fund is dedicated to doing its part in developing Chicagoland’s communities. For 28 years, CCLF has provided funds for developments like… Read more »
A new start-up food business incubator opened December 6, 2018, bringing energy and enthusiasm to Chicago’s East Garfield Park neighborhood: The Hatchery Chicago. Well-attended by culinary enthusiasts, community groups, U.S. Congressman Danny Davis, Chicago Mayor Rahm Emanuel, World Business Chicago CEO Andrea Zopp, 27th Ward Alderman Walter Burnett, 28th Ward Alderman Jason Ervin, and celebrity… Read more »
On December 11, 2018, Benefit Chicago, a social investment fund sponsored by The Chicago Community Trust, Calvert Impact Capital, and the John D. and Catherine T. MacArthur Foundation, announced that it would provide $5 million in financing to CCLF’s Repurpose Initiative. The Repurpose Initiative focuses on revitalizing shuttered Chicago Public School buildings on the city’s… Read more »
LUCHA received the 2018 Opportunity Finance Network’s (OFN) Social Justice Award during its annual conference held at the Marriott Marquis, October 8-11, 2018, in Chicago. Each year, OFN awards the OFN Conference Justice Grant to a nonprofit organization whose mission is consistent with OFN’s core purpose of aligning capital with social, economic, and political justice…. Read more »
Thanks to the dedication of neighborhood leaders, local developers, and community-focused funders, Chicago’s Pullman Neighborhood has a new destination: U.S. Bank Pullman Community Center. The Center’s lively grand opening took place on November 8, 2018. Constructed on 12 acres of previously long-vacant land, the 135,000-square-foot Pullman Community Center is the largest multi-sport complex in the… Read more »