Boston Community Loan Fund (BCLF) looks beyond the standard metrics of collateral and credit history, instead basing loans on our assessment of the borrower’s capabilities, our knowledge of the community and our evaluation of each project’s impact. The efficacy of this method is underscored by our extraordinary lending record, with total losses of less than one-thirtieth of one percent, and all lenders repaid on time and in full.
BCLF provides loans to nonprofit organizations, community development corporations (CDCs) and local developers that build affordable housing and provide social and community services for underserved communities. Founded on the firm conviction that low-income communities can sustain debt, we make loans that enhance and stabilize these communities. Our loan products and services are customized to meet the needs and constraints of our borrowers, providing fast, flexible and sufficient capital at each stage of a project’s development.
Loan Fund Impact
Boston Community Loan Fund has made loans totaling over $400 million to affordable housing developers and nonprofit organizations providing services in low-income communities. These loans have helped finance:
- Over 14,800 of affordable housing units
- Child care facilities serving over 9,800 children
- Schools and youth programs serving over 3,700 low-income students
- Health care facilities providing a comprehensive range of care to over 66,000 patients
- Over 1.5 million square feet of commercial real estate and community facilities in distressed communities