PRIs specifically target experienced Community Development Financial Institutions (CDFIs) and intermediary lenders that can leverage additional financing and provide technical assistance to nonprofits in these program areas: health care, affordable housing, early childhood education, and nonprofit working capital and capacity building.
By providing PRIs to these organizations, which then make loans and provide technical assistance to nonprofits, CCF seeks to build the capacity of local nonprofits to obtain financing and expand their facilities so they can continue to address critical needs in the community.
To be eligible for PRI funding, proposed CDFI activities must:
- Be focused in Los Angeles County.
- Be linked to CCF’s program areas and/or other foundation initiatives.
- Have a strong lending track record and financial performance over time.
- Have documentation of market need to be served, and ability of proposed lending activity to provide prudent basis for repayment and preservation of PRI capital.
- Prove that a PRI will leverage other funding sources from other investors.
Nonprofit organizations should contact the foundation’s selected intermediaries for loan application information and terms.
If the CDFI or intermediary lender meets the eligibility criteria, a meeting with foundation staff and PRI consultant(s) may be requested to discuss a potential PRI proposal.
You may also submit a letter of intent (LOI) that includes:
- Background on your track record.
- Summary of the proposed activity to be supported through a PRI.
- Proposed use of proceeds, both in terms of structure (e.g., re-lending, credit enhancement or other) and types of end borrowers and loans to be supported.
- Documentation that your proposal will fulfill the eligibility criteria.
- Relevant background materials as attachments.