MHCLF has received a 2015 Financial Assistance Award of $2,000,000 from the US Department of Treasury’s CDFI Fund. The new loan fund capital will allow MHCLF to finance additional affordable housing, economic development, and nonprofit community facilities projects throughout the state.
The CDFI Fund award will leverage additional investments and boosts MHCLF’s available loan capital by 10% to nearly $18 million. The 2015 award is the fourth award in six years and brings MHCLF’s total CDFI Fund awards to over $4 million.
MHCLF was one of four Colorado CDFIs to recieve awards this year and received the maximum amount. The other recipients are Colorado Enterprise Fund ($2 million), Mercy Loan Fund ($1.4 million), and La Plata Homes Fund, Inc. ($125,000).
“Today’s awards highlight how much the CDFI Program has contributed in its 20 year history towards building a strong network of CDFIs across the country” said CDFI Fund Director Annie Donovan. “These important community partners are not only on the frontlines of economically distressed communities providing needed capital and credit, they are building a more inclusive community, which benefits the nation as a whole.”