Lisa M. Jones of the U.S. Treasury Department’s Community Development Financial Institution Fund (CDFI Fund), has been honored with a 2016 finalist designation for a Sammie Award for her integral role in establishing the CDFI Bond Guarantee Program (BGP). The Sammies—awarded by the Partnership for Public Service and named after late founder Samuel J. Heyman—are awarded annually to Federal Government employees whose service to this country is exceptional. Jones is being considered for the “Citizen Services” category for establishing and directing the BGP, which was designed to provide long-term capital for CDFIs to channel into low-income areas.
Statement from Clearinghouse CDFI President and CEO, Douglas Bystry:
“Lisa has tirelessly worked to build the BGP into the nation’s best vehicle for directing needed capital into the communities we serve. The success of the BGP is a testament to Lisa’s hard work and an important achievement for our industry. As a bond recipient, Clearinghouse CDFI can attest to the meaningful and measurable impact that the BGP achieves in our communities. Congratulations to Lisa on her much deserved recognition as a Sammie Awards finalist. Her work has made a tremendous impact all over America.”
About the Bond Guarantee Program:
The BGP is a financial game-changer that unlocks doors in underserved communities at no cost to tax-payers. Unlike other community development financing programs, the BGP does not offer grants. It is a federal credit program and the bond proceeds are debt instruments that must be repaid.
Since its inception, a total of $852 million in bonds has been guaranteed through the BGP to CDFIs, which exist to serve some of the nation’s most distressed communities. Clearinghouse CDFI closed the first ever bond through the BGP in 2014 for $100 million and a second $100 million bond in 2015. Clearinghouse CDFI was also the first entity to use BGP funds to enhance lending opportunities in a Sovereign Nation. In total, Clearinghouse CDFI has financed $123 million through the BGP for projects benefitting more than 160,000 individuals across 58 diverse communities.
ABOUT THE PARTNERSHIP FOR PUBLIC SERVICE
The Partnership for Public Service is a nonprofit, nonpartisan organization that believes good government starts with good people. We help government serve the needs of all Americans by strengthening the civil service and the systems that support it.
ABOUT CLEARINGHOUSE COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (Clearinghouse CDFI):
Clearinghouse Community Development Financial Institution (Clearinghouse CDFI) addresses unmet credit needs in California, Nevada, Arizona, New Mexico, and Sovereign Nations in the Western U.S. Rated ‘AA’ Stable by Standard & Poor’s Ratings Services, Clearinghouse CDFI is an industry leader helping to bridge the gap between conventional lending standards and the needs of low-income and distressed communities.
Over the course of 19 years, Clearinghouse CDFI has funded $1.2 billion in total loans for over 1,650 projects which have created or retained more than 13,800 jobs and benefit over 1 million individuals. Clearinghouse CDFI is also a B Corp—a certification received from the nonprofit B Lab. B Corps are companies who meet rigorous standards of social and environmental performance, transparency, and accountability, and use business as a force for good. At June 30, 2016, Clearinghouse CDFI has total assets of $312 million. More information is available at: www.clearinghousecdfi.com.
Click here to download the PDF of this announcement: Sammie Awards