Pelosi Announces $1.4 Million for Northern California Community Loan Fund

Pelosi Announces $1.4 Million for Northern California Community Loan Fund

Friday, September 16, 2005

Contact: Brendan Daly/Jennifer Crider, 202-226-7616

Washington, D.C. â€" House Democratic Leader Nancy Pelosi announced today $1.4 million in Department of the Treasury funds for the Northern California Community Loan Fund (NCCLF).

â€Å"The Northern California Community Loan Fund helps lift up low-income neighborhoods in northern California,” Pelosi said. â€Å"This federal investment will be put to good use: strengthening our communities.”

NCCLF provides financial and technical help to groups providing affordable housing, community centers, job training, and human services. The Fund plans to use the federal dollars to increase lending capital, offer new loans, and expand development services.

The funds were awarded under the Financial Assistance Component of the Department of the Treasury’s Community Development Banking and Financial Institutions Fund. These awards are targeted to strengthen community development and financial institutions in low-income areas.