New $1M Loan Provides Capital for Community-Based Nonprofits and Enterprises

NCCLF’s lending team supports affordable housing development in Oakland and Fremont (Photo courtesy of Abode Services)

We are thrilled to announce that The San Francisco Foundation, together with our donors, is providing a $1 million loan, our latest Program-Related Investment (PRI), to the Northern California Community Loan Fund (NCCLF). NCCLF is a previous recipient of a PRI loan from our foundation, having received a $500,000 loan in 2010. The fund has supported more than 100 wonderful local nonprofits, including the Destiny Arts Center, Family House, First Place for Youth, Girls Inc., Mission Neighborhood Centers, SF Jazz and the St. Anthony Foundation. You might recognize some of your favorites on this list!

Founded in 1987, NCCLF’s mission is to promote economic justice and alleviate poverty by increasing the financial resilience and sustainability of community-based nonprofits. NCCLF is a non-profit Community Development Financial Institution (CDFI) based in San Francisco with satellite operations in Oakland and Fresno. Their loans help organizations purchase and/or renovate buildings, develop affordable housing and have sufficient working capital to grow operations and smooth cash flow. Unlike other CDFIs serving affordable housing developers and non-profits, NCCLF provides smaller and more flexible loans to smaller, less established organizations.

Our foundation’s PRI loan will allow NCCLF to engage in the following projects:
1. To address food insecurity among low-income residents, NCCLF plans to develop a state-wide, multi-lender platform that will invest in improving access to healthy food for low-income communities.
2. NCCLF will also provide grants and zero-interest loans to support the acquisition, development and renovation of affordable housing and community facilities in select Oakland neighborhoods through the Greater Oakland Fund.
3. To support nonprofits and small businesses impacted by AC Transit’s Bus Rapid Transit Project along International Boulevard in Oakland, NCCLF will provide technical assistance to address facility and financial readiness to community nonprofits.

One example of NCCLF’s work in the community is its partnership with Abode Services, which provides emergency and permanent housing in the Bay Area. Serving nearly 5,000 homeless clients annually, Abode Services works with landlords, manages governmental rental assistance programs, builds new housing stock and provides case management services to ensure that people can secure and stay in their homes.

Earlier this year, NCCLF provided Abode, and one of its housing developer partners, Allied Housing, with a loan for the acquisition and preservation of affordable housing in East Oakland. NCCLF’s $3.3 million loan helped purchase a 24-unit building on International Boulevard in the city’s Fruitvale neighborhood. One-fourth of the building’s residents are Abode clients. The goal is to lease as many units as possible to individuals who are either homeless or at risk of homelessness.

In partnership with our donors, we are proud to support NCCLF with this important and timely investment. Learn more about our Program-Related Investment Fund and our current portfolio of loans at sff.org/pri.

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