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 continue its mission in unsettling times.
“CCLF’s funders and investors contacted us immediately asking what more they can do to help CCLF customers during the pandemic,” explained Angela Dowell, CCLF’s Chief Financial Officer. “The support we’ve received included additional grant funding, lower interest rates, and relaxing agreements. This has helped CCLF to offer its customers forbearance on their loan payments and offer new technical assistance that helped customers, nonprofits and small businesses access emergency resources such as the Payroll Protection Program, Chicago Small Business Resiliency Fund and the Cook County Recovery Fund.”
“The manner in which our investors and funders have responded during the COVID-19 crisis and social unrest not only helps CCLF financially, but greatly impacts our borrowers,” Dowell said. “CCLF remains in a position to provide financial assistance, support and relief to our borrowers during these challenging times, when our work in low-to moderate-income communities is needed most. Thank you to all our funders and investors.”