Report Overview
Clearinghouse CDFI’s 2020 Annual Report highlights the organization’s response to the COVID-19 pandemic and its continued commitment to serving communities during a period of extraordinary disruption. The report details emergency lending efforts, Paycheck Protection Program financing, and support for borrowers facing sudden economic challenges.
Despite a difficult operating environment, Clearinghouse CDFI continued funding impactful projects, expanded access to capital, and achieved its 21st consecutive year of profitability. The report also introduces the FVLCRUM Fund, a new initiative focused on expanding economic opportunity and reducing the minority wealth gap.
Despite a difficult operating environment, Clearinghouse CDFI continued funding impactful projects, expanded access to capital, and achieved its 21st consecutive year of profitability. The report also introduces the FVLCRUM Fund, a new initiative focused on expanding economic opportunity and reducing the minority wealth gap.
Report Highlights
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$21.24 million in Paycheck Protection Program loans funded -
460 PPP loans provided to small businesses
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1,600 jobs supported through PPP lending
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$93.6 million in core loans funded during 2020
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$65 million in New Markets Tax Credit allocation awarded
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$602.5 million in total assets
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$5.1 million in net income
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21st consecutive year of profitability
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$128 million financed for projects located in low-income communities
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1,137 housing units created in 2020
