COMMUNITY REINVESTMENT FUND, USA PARTNERS WITH MAYOR ADAMS AND SBS TO ANNOUNCE THE OPENING OF APPLICATIONS FOR A HISTORIC $75M “OPPORTUNITY FUND” TO HELP SMALL BUSINESSES LEAD PANDEMIC RECOVERY

Recognized for transformative financing strategies in disinvested communities

Top-rated lenders Capital Impact Partners, Low Income Investment Fund and Reinvestment Fund will support economic development projects across the nation

The grant will help enhance small business lending efforts in low-income and economically distressed communities.

CDFIs help banks meet CRA requirements

Thanks to funding support from the Kresge Foundation, the Ford Foundation, Michigan State Housing Development Authority and Huntington, FirstMerit, Flagstar, Talmer and Liberty Banks, CRF was able to launch Detroit Home Mortgage. Read below to find out how it will help increase home ownership in the city of Detroit.

The grant will help CRF reduce loan acquisition costs and provide new technology solutions to other mission-driven lenders

At CRF, we believe access to healthy food should be a right.

As part of its Q1 earnings press release, the board of directors of Lending Club announced last week that it had accepted the resignation of Renaud Laplanche as Chairman and CEO following an internal review of sales of $22 million in near-prime loans to a single investor. This announcement also presented the company’s first quarter earnings reports, which showed Lending Club stock earning $0.01 per share, less than the $0.05 that was projected, but still a modest $4.1M contribution toward Net Income (up from a loss of $6.4M for the same period last year). This past Monday, after the markets opened, shares of the company were down as much as 26%.