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The California Community Foundation provides Program-Related Investments (PRIs), which are low-interest loans that extend the reach of its grantmaking.
The foundation provides PRIs to established Community Development Financial Institutions (CDFIs) and other intermediary lenders to enable them to:
- Serve community financing needs that are strategic priorities of the foundation but which are not addressed through the mainstream lending system.
- Recycle capital to multiply its impact.
- Leverage and attract funding from private and public sources.
Learn more by clicking on a link:
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Nonprofit organizations should contact the foundation's selected intermediaries for loan application information and terms. View a list of CCF-approved intermediaries. |
PRI Characteristics
| Loan Amounts: |
Range from $1 to $6 million |
| Interest Rates: |
Range from 1 - 3 percent |
| Loan Terms: |
Typically 7 - 10 years, with recourse to CDFI |
Structure of PRIs
- PRIs are loans from the foundation to a CDFI.
- Proceeds of the PRI can be used by a CDFI either as loans (through a re-lending structure) and/or as credit enhancements (e.g., loan guarantees or reserve funds) to leverage other private or public funding.
- Other structures may be considered on a case-by-case basis in the future for qualifying CDFIs (e.g., loan participations, social deposits and/or equity).
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Current Status
| Cumulative Lending Volume |
$21.6 million (90+ loans) |
| Outcomes to Date |
4,507 units of affordable housing and
300,000+ sq. ft. of community facility space |
| Current Outstanding PRI Commitments |
$14 million (six loans) |
Program History
The California Community Foundation:
- Began lending to nonprofit organizations in 1986.
- Formalized its PRI program in 2000. Early loans were primarily predevelopment and other direct real estate loans to support the development of affordable housing and a variety of community facilities throughout Los Angeles County.
- Re-focused its PRI program in 2007, to lend exclusively through partnerships with CDFIs and other established intermediary lenders.
For more information, contact Senior Vice President of Programs Alvertha Penny at (213) 413-4130.
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