Clearinghouse Community Development Financial Institution (Clearinghouse CDFI) announced today that current community partner Sunwest Bank has invested $250,000 in Clearinghouse CDFI “Class A” shares for community development finance in low-income and underserved communities.
“Partnering with Clearinghouse CDFI is a perfect fit for both of us,” said President and CEO of Sunwest Bank, J. Chris Walsh. “It is a win/win situation that benefits most the community that we both serve.”
Clearinghouse CDFI will use the $250,000 to finance community development projects such as affordable housing, commercial facilities, commercial real estate, nonprofits, and small businesses.
“Sunwest Bank is a long-standing community partner of Clearinghouse CDFI,” stated Douglas Bystry, President and Chief Executive Officer of Clearinghouse CDFI. “We appreciate their most recent investment, which comes at a critical time and will help us fulfill our mission to finance impactful projects that create jobs and improve underserved communities.”
Clearinghouse CDFI’s mission is to provide economic opportunities and improve the quality of life for lower-income individuals and communities through innovative financing that is unavailable in the conventional market. Throughout California and Nevada, Clearinghouse CDFI has funded a total of $1.1 billion in loans for 1,540 projects benefiting over 824,000 individuals. Clearinghouse CDFI loans have created or retained 11,500 permanent and construction jobs and developed or rehabilitated 9.9 million square feet.
ABOUT CLEARINGHOUSE COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI)
Clearinghouse CDFI addresses unmet credit needs in California and Nevada by bridging the financing gap between conventional lending standards and the needs of lower-income families and communities. More information is available at: www.clearinghousecdfi.com.
ABOUT SUNWEST BANK
An established community bank, Sunwest Bank has offices in California, Arizona, Washington and Idaho. Sunwest Bank offers a wide range of financial products to individuals, professionals, homeowner associations, and small- to mid-sized businesses. The Bank’s solution-driven, relationship-based approach to banking provides accessibility to decision makers and enhances value through strong partnerships with our clients. For more information about Sunwest Bank, visit the company’s website at www.sunwestbank.com or call (800) 330-9890.