Community LendingWorks, a Community Development Financial Institution (CDFI) is also a NEDCO (Neighborhood Economic Development Corporation) affiliate nonprofit corporation that helps people move out of poverty and into the financial mainstream. We do this by developing customized financial tools to help people work their way toward financial stability, and by financing community and economic development, healthy food access and real estate projects in distressed neighborhoods.Community LendingWorks is not just your average lender. We use small loans as a tool to help people and businesses make their lives, and our community, better. Because of our focus on helping people move forward financially, we are able to create customized loan products, and to take risks on people based on what we know about their character. To Community LendingWorks, people and businesses are more than a credit score or balance sheet. They are the heart of what makes our community great.
We have our community's stamp of approval. Now we have the federal government's, too. As a Community Development Financial Institution (CDFI), the US Department of Treasury granted Community LendingWorks a Financial Assistance award of $420,000. The award will enable us to increase our lending and investments - right here in our own community.
That's good news for all of us. People we offer resources to could be working toward any number of goals, including moving toward financial stability by developing better credit; developing a small business; preparing to purchase a home; maintaining responsible homeownership or a number of other regular financial needs that are not currently met in the marketplace.
Our programs are tailored to suit the needs and circumstances of the people we are empowering to succeed. Offerings include:
- Credit Builder Loans – for people with no credit or damaged credit to build or rebuild their credit.
- Personal Loans – loans for people with financial needs not traditionally served by the financial mainstream.
- “Family” Loans – short term loans for basic financial needs. This product serves as a substitute for wealth-stripping loans that are typically available to low-income, low-wealth people in a pinch.
- Micro and Small Business Loans – for entrepreneurs and vendors who need access to small capital as a piece of financing a larger project, to help launch a small business or to provide up-front capital for seasonal production.
- Home Rehab Loans – affordable, safe loans for homeowners to attain and maintain stable, responsible homeownership.
- Green Loans – to support financing of energy efficiency, solar and other renewable energy improvements to residential properties.
- Small Farm Loans - to support increase in product availability, infrastructure and equipment.
Community LendingWorks designs a pathway to financial stability and economic health for individuals, families and communities – regardless of where they are starting out. Coupled with NEDCO’s financial literacy, homeownership, and microenterprise education and counseling; individual development accounts (matched savings toward the purchase of a specific asset); and the relationship we develop with clients, Community LendingWorks helps people get off to a solid start toward building their financial future.
For more information on Community LendingWorks resources, please contact:
Lynn Meyer, Director of Community Development Lending or call 541.345.0446.
For more information on investing in Community LendingWorks, please contact:
Claire Seguin, Executive Director or call 541-345-7106.