December 5, 2013: Community Capital New York, a non-profit lender and one of the largest microfinance agencies in the lower Hudson Valley, has been awarded by the People’s United Community Foundation with a $5,000 grant to its Affordable Housing Program. Community Capital New York (CCNY) is one of eight regional nonprofit organizations awarded a total of $40,500 by People’s United Community Foundation this month.
“We look forward to continuing our support in New York and recognizing the organizations that are doing great work,” said Vincent Santilli, Executive Director of People’s United Community Foundation.
Community Capital New York, a not-for-profit alternative lender, is a critical resource for community and economic development. CCNY provides underserved communities and individuals with responsible and affordable small business, child care, energy efficiency and affordable housing loans that foster opportunity, change lives and create impact. CCNY aligns capital and pragmatic idealism with social and economic justice, economically empowering people in seven counties of the Hudson Valley. Seventy-five percent of Community Capital New York’s loans are to women and minorities. Community Capital New York works outside the margins of conventional finance to bring individuals and communities into the economic mainstream.
Since 1989, Community Capital New York has loaned or invested more than $363.4 million in the Hudson Valley, funded more than 2,300 affordable homes, helped create more than 2,000 jobs, and helped generate over $10 million in tax revenues for the region on an annual basis.
“We help those who struggle with market rate housing costs—nurses, firefighters, police officers—become part of the communities they serve,” explains Community Capital New York’s Executive Director Kim Jacobs.