Delaware - The NCALL Loan Fund was recently selected to receive a capital grant of $557,000 by the Community Development Financial Institutions (CDFI) Fund, a program within the U. S. Department of Treasury. Mission-driven CDFIs such as the Loan Fund use the capital grants to increase lending and investment activity in low-income and economically distressed communities across the nation.
"We are grateful for this grant and the wonderful impact it will have on the Delmarva Peninsula," said NCALL’s Executive Director, Karen Speakman. "It will allow us to continue to provide lending for much-needed housing and community facilities."
The Loan Fund will use its award to provide loans and technical assistance to nonprofit organizations on the Delmarva Peninsula that have been acutely affected by COVID-19. "Our borrowers have been providing critical services to their communities during the pandemic," said Dave Callahan, Loan Fund Manager. "We have been working closely with them to help ensure their sustainability, and this award will be of great assistance in that effort."
About NCALL
NCALL is a nonprofit affordable housing and community development organization. NCALL’s mission is to strengthen communities through housing, lending, and education. Our vision is thriving neighborhoods and equitable housing for all on the Delmarva Peninsula. With a talented staff of 39 people, we provide homeownership counseling, financial education, and foreclosure prevention programs across Delaware. NCALL offers lending, neighborhood revitalization, and housing development services as an Intermediary over the entire Delmarva Peninsula, and through a USDA contract, the Regional Self-Help Housing Program delivers technical assistance to grantees in 21 states in the Northeast. Visit www.ncall.org or call 302-678-9400 to learn more.
About the Loan Fund
The NCALL Loan Fund is a nonprofit Community Development Financial Institution. Its purpose is to provide innovative lending and services targeted to affordable housing and community development. Since 2004, the Loan Fund has deployed more than $138 million in financing on the Delmarva Peninsula, resulting in the development of more than 860 affordable housing units; 400 rooms with supportive living services; 575,000 square feet of community facilities and 132,000 square feet of mixed-use/commercial space.
363 Saulsbury Road
Dover, DE 19904
www.ncall.org
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