NCRC Community Development Fund Receives CDFI Certification
Washington, DC – Today, the National Community Reinvestment Coalition (NCRC) announced that the NCRC Community Development Fund has received certification from the Community Development Financial Institutions Fund as a Community Development Financial Institution (CDFI).
“We are very excited to receive CDFI certification,” said NCRC President and CEO John Taylor. “This certification will allow NCRC to further build out our financial and technical assistance services for small businesses and minority- and women-owned small businesses.”
The National Community Reinvestment Coalition operates three U.S. Department of Commerce-sponsored Minority Business Centers (in Washington, DC, New York, NY, and Houston, TX), a Women’s Business Center sponsored by the U.S. Small Business Administration (SBA), and an SBA Small Business Teaming Center. The NCRC Community Development Fund (NCRC CDF) is a small business investment fund that measures the success of its investments by financial return, positive social impact, and environmental benefits in its current target market of the District of Columbia, with plans to serve women- and minority-owned businesses nationwide in the future.
To date, NCRC CDF, through the Fund and the NCRC Small Business Center affiliates, has counseled and provided technical assistance to over 1,500 small businesses, assisted in securing over $2 billion in financing and contracts, created over 150 new jobs, and directly lent $150,000 to women, minority, and low-income owned businesses in the District of Columbia Metro area.
About the National Community Reinvestment Coalition (NCRC):
The National Community Reinvestment Coalition is an association of more than 600 community-based organizations that promote access to basic banking services, including credit and savings, to create and sustain affordable housing, job development, and vibrant communities for America’s working families.