Community Lenders Community Development Corporation

Overview

Community Lenders Community Development Corporation is a nonprofit organization committed to fostering economic growth and community development in Pennsylvania. It operates as a multi-bank community development corporation, partnering with both public and private entities to provide essential financial services.

Mission and Activities

The mission of Community Lenders is to enhance the lives of individuals in low to moderate-income communities by offering financing opportunities that traditional financial institutions do not provide. This is achieved through long-term lending to organizations dedicated to community improvement. By pooling resources from member banks, Community Lenders shares the lending risk, thereby contributing to stronger community development initiatives.

Community Lenders focuses on housing and commercial development projects that benefit low and moderate-income persons. It has assisted hundreds of individuals in accessing affordable housing and has supported numerous community agencies.

Financial Operations

Community Lenders generates its revenue primarily through program services, which account for nearly all of its income. This includes loan servicing and other community development activities. It also receives a small portion of its income from investment activities. The organization holds substantial assets and liabilities, reflecting its continuous engagement in community development projects.

Impact

Over the years, Community Lenders has disbursed more than $93 million in loans, significantly affecting the lives of thousands of individuals and supporting the growth of local communities. By offering extended financing terms, such as 25- and 30-year loans, it supports non-profit facilities that drive regional economic development and provide essential community services.

Classification

Community Lenders is classified under the housing and fund-raising categories, reflecting its primary focus on housing development and its role in distributing funds for community projects. Donations to the organization are tax-deductible, further supporting its mission to enhance community well-being.

Structural Context

As a nonprofit community development corporation, Community Lenders operates within the broader framework of community development financial institutions (CDFIs). CDFIs play a critical role in providing financial resources and services to underserved communities across the United States. They leverage public and private investments to foster economic growth and opportunity in these areas.

[1] https://communitylenderspa.org/main-about/ [2] https://www.ofn.org/what-is-a-cdfi/ [3] https://projects.propublica.org/nonprofits/organizations/233002271 [4] https://www.cdfifund.gov [5] https://communitylenderspa.org