Mission: Community capital is a nonprofit lender that has revitalized communities and transformed lives in the mid-hudson valley, bronx and fairfield county, ct for over 25 years. Our mission is to foster economic opportunity for underserved individuals and communities by providing loans and technical assistance that supports entrepreneurs, the development of affordable homes and the economic and social well-being of residents in our region.
Programs: See schedule o - small business lending and technical assistancecommunity capital began working with small business owners in 2003 and received sba certification to offer micro loans in 2007. Since then, community capital has made over $5 million in loans to over 235 businesses and has emerged as the largest not for profit lender in the hudson valley. Most of our small business clients are low to moderate income minority, women or traditionally underserved entrepreneurs who have had difficulty accessing capital from traditional banks to grow their businesses. At community capital we work to identify the best solutions for each individual business owner. We offer fair, transparent loans and lines of credit with flexible rates and terms. Borrowers also receive free, on-going financial coaching, one-on-one consulting and business training services to ensure sustainable results. In the fiscal year ending june 30, 2018, community capital's small business micro loan portfolio was valued at $1,211,995. Furthermore, in fy2018 alone it committed over 6,000 hours to the provision of technical assistance, business plan review, workshops, networking and mentoring. Community capital is proud to report that after four years in business, 87% of its loan clients are still in business as compared to the sba reported national average of 50%. It believes that these outcomes are a direct result of the high quality, free technical assistance programs that not only enable its clients to succeed, but thrive.
see schedule o - affordable housing lending programin the housing arena, community capital extends predevelopment loans and other gap financing to for profit and nonprofit developers so they can ultimately catalyze the investment of longer term capital needed to create affordable homes. Engineering and environmental studies, appraisals, surveys and consulting services are examples of the projects we fund so our workforce, our seniors and our millennials have access to safe, affordable housing options. Community capital's flexible, low cost loans help create homes for those who make 80 percent or less of the area median income. In the year ending june 30, 2018 community capital's housing loan portfolio was valued at $1,557,133. Loans closed to projects during the fiscal year ultimately led to the creation of 297 affordable homes and the revitalization of four ground floor commercial spaces. In 2015, community capital established a new program in the city of newburgh to address the overwhelming need for revitalization in select neighborhoods adjacent to downtown. In collaboration with various partner organizations, community capital created a feasibility loan fund whereby loans are offered to cover the cost of lead and asbestos inspections for building in the target area. If the inspection shows that remediation makes the project infeasible, the loan may be forgiven. Community capital also raised a pool of grant funds to make grants to address the cost of remediation in select cases. To date, eight buildings have benefited from the program. Community capital also provides advocacy leadership around housing issues in the region.