LAKE FOREST, CA – February 7, 2019 – Clearinghouse Community Development Financial Institution (Clearinghouse CDFI) announced today a $100,000 Class A equity investment from Nano Banc, an Irvine, California based banking institution. This is Nano Banc’s first investment with
“It’s important to be engaged and consider how improvements impact the communities we serve; especially for underserved segments of our community,” said Mark Troncale, President, Nano Banc. “We strive to support innovation, guidance, and doing as much as possible to improve all lives in our community. That’s why Nano Banc is proud to invest in our community’s future and
Clearinghouse CDFI will use this investment to benefit low-income and distressed communities throughout Southern California. The $100,000 investment will help Clearinghouse CDFI continue financing community facilities, affordable housing, commercial real estate, and other projects that create jobs and services in underserved areas.
“As a new bank and neighbor in Orange County, we are thrilled to receive one of Nano Banc’s first investments,” said Douglas J. Bystry, President and CEO of Clearinghouse CDFI. “We will use this capital to fund projects creating positive impact in the communities we serve. We look forward to working closely with the team at Nano Banc.”
Clearinghouse CDFI has funded $1.55 billion in total loans for over 1,820 community projects over the past 22 years. These projects have created or retained more than 18,000 jobs and benefit over 1.5 million individuals. This includes the rehabilitation of more than 16.9 million square feet of blighted properties. These projects have benefited over 610 separate underserved communities throughout California, Nevada, Arizona, New Mexico, and Indian Country.
About Nano Banc:
Nano Banc commenced to offer innovative financial solutions in 2018 through the acquisition of Commerce Bank of Temecula Valley which was established in 2007. The Banc provides a suite of commercial banking services, commercial real estate, equipment/industrial loans and business lines of credit. Headquartered in Irvine, California, Nano Banc currently holds assets totaling over $523 million and proudly serves the specialized and diverse banking needs of commercial clientele throughout Southern California. Member FDIC. More information is available at: www.nanobanc.com.
Download the full release: Nano Banc Invests $100,000 in Clearinghouse CDFI