Our Journey to
Twenty-Five Years

The Beginning

1996
  • Clearinghouse CDFI
    Incorporated as
    For-Profit Corporation
1997
  • Certified as a Community Development Financial Institution by U.S. Dept. of Treasury, CDFI Fund
  • First Investor closing: Coast Federal Bank, Southern California Federal Savings, California United Bank, Fullerton Savings
  • Fidelity Federal Bank becomes largest investor: $200,000 equity, $2 million loan funds
1998
  • First loan funded in Santa Ana to nonprofit “American Family Housing”
  • Certified as State CDFI through COIN
  • Received first 0% deposit: Chase Manhattan Bank – $100,000
  • First offering closed: $1 million Class A equity, $10 million loan funds
1999
  • Second private placement offering for core lending issued: $40 million
  • COIN investments exceeds $1.15 million
2000
  • First Year of Profitability – 3 years ahead of schedule
  • Awarded first CDFI Fund Award: $2 Million
2001
  • Awarded CDFI Financial Performance Award sponsored by Wachovia Bank

Ten Years

Building Lasting Relationships

With Our Borrowers

Heritage Housing Partners

Pasadena, CA

Original Funding Year: 2005

$24 Million in Loans

Napa Community Real Estate

Napa, CA

Original Funding Year: 2001

$6 Million Loan

CCDFI takes great pride in developing long-term relationships with our borrowers that in turn benefit our shared communities. One such borrower, Charles Loveman, began working with CCDFI in 2005 to address the need for affordable housing throughout California.

Charles first approached CCDFI in 2005 on behalf of Heritage Housing Partners (HHP), a nonprofit that creates affordable housing. CCDFI worked with HHP and Charles to fund multiple loans totaling over $24 million. These projects created 153 units of affordable housing.

CCDFI was pleased to work with Charles Loveman again in 2021, along with long-time friend and associate Michael Williamson, to fund Napa Community Real Estate Fund (Napa). Napa is the $6 million acquisition of a vacant site for development into 140 units of affordable housing for families earning between 70%-80% AMI.

Over the past 17 years, Clearinghouse CDFI’s partnership with Charles Loveman has yielded a total of 300 units of affordable housing across California.

2002
  • Awarded FIRST $56 million New Markets Tax Credit Allocation
2003
  • Third private placement offering for core lending issued
  • First single family home-ownership Program – Lease to Purchase
    • 29 loans totaling $5.86 million
2004
  • Total assets reach $45 million
  • 70 Single-family loans funded, totaling $18.37 million

Cumulative lending exceeds

$100 Million

2005
  • Awarded $75 million New Markets Tax Credit Allocation
  • Funded Heritage Housing Partners—first use of NMTC funds in for-sale affordable housing project
  • First dividend is issued to
    Clearinghouse CDFI Shareholders
  • Total assets reach $62 Million

$3.6 Million

Total Core Lending

$20.8 Million

Total NMTC Lending

300

Affordable Housing Units Created

2006
  • Marked the fifth consecutive year of increased loan production, profitability, and measurable impact to the low-income communities we serve
  • Funded $63 million for first-time home buyers, assisting 213 families

Fifteen Years

Transformative Impact of New Markets Tax Credits

Pier South Resort

Original Funding year: 2011

Imperial Beach, CA

$10 Million NMTC Allocation

"The City of Imperial Beach was fortunate to receive CCDFI financing for the Pier South Resort Hotel project on our oceanfront. It adds to our city's health and vitality, and benefits not only city residents, but the entire region. We hope this will be a signal to other quality investors and community oriented business owners to come to Imperial Beach and we are grateful for the confidence expressed by Clearinghouse CDFI."

[Former] Mayor Jim Janney of Imperial Beach

Over

30

New businesses opened since Pier South’s opening,

generating over

$4.2 Million

in annual toourism spending in Imperial Beach

where

100%

of locals/residents say they

Feel Safer

with Pier South Hotel in Imperial Beach

Resulting in a

2.25%

Wage increase

37

Full-Time Jobs Created

300

Construction Jobs Created

25%

of Employees were Unemployed at Hire

60%

of Employees were Imperial Beach residents

60%

of Employees were Latino/Hispanic

2007
  • Honored as a finalist in the 2007 Wachovia NEXT Awards which recognizes innovation, impact, and vision within the CDFI industry
  • First Credit Facility from a GSE (Government Sponsored Enterprise) FNMA provided a $20 million facility
2008
  • Received national recognition in Newsweek magazine highlighting our ethical lending during the national mortgage meltdown
  • Awarded $90 Million New Markets Tax Credit Allocation
  • First “Off Balance Sheet” Fund – CRA Investment Fund I – $50 million created and fully funded by banks
2009
  • Awarded $100 million New Markets Tax Credit Allocation

  • Awarded CDFI Fund Financial Assistance (FA) Award: $1 million
  • Single-family USDA loans in AK, ME, TX, MD, & CT

Cumulative lending exceeds

$600 Million

2010
  • Awarded $35 million New Markets Tax Credit Allocation
  • Paid off a total $10 million of debt from first private placement memorandum ahead of schedule
2011
  • Clearinghouse CDFI becomes the first non-depository CDFI to borrow from the Federal Home Loan Bank

 

  • Launched Purchase, Rehab, Resale (PRR) Program through National Community Stabilization Trust (NCST)

Over

30

New businesses opened since Pier South’s opening,

generating over

$4.2 Million

in annual toourism spending in Imperial Beach

where

100%

of locals/residents say they

Feel Safer

with Pier South Hotel in Imperial Beach

Resulting in a

2.25%

Wage increase

Lasting
Impact

37

Full-Time Jobs Created

300

Construction Jobs Created

25%

of Employees were Unemployed at Hire

60%

of Employees were Imperial Beach residents

60%

of Employees were Latino/Hispanic

37

Full-Time Jobs Created

300

Construction Jobs Created

25%

of Employees were Unemployed at Hire

60%

of Employees were Imperial Beach residents

60%

of Employees were Latino/Hispanic

Twenty Years

Transformative Impact of New Markets Tax Credits

Monarch School
Original Funding Year: 2012

San Diego, CA

$3.8 Million NMTC Allocation

Purpose:

Clearinghouse CDFI’s long-term commitment to at-risk youth is reflected in its partnership with Monarch School—a San Diego, California nonprofit dedicated to providing education for students impacted by homelessness.

In addition to its educational and academic curricula, Monarch School provides kindergarten through 12th grade students who are experiencing the unique challenges of homelessness with basic yet critical necessities. This includes shower facilities, toiletries, clothing, and meals.

Extending our support:

Clearinghouse CDFI participated in a 2014 partnership to provide $50,000 in grant funds for student enrichment activities, including a Legoland science workshop for 7th graders.

Clearinghouse CDFI provided financial support to send the 8th graders on a three-day science camp at the Catalina Island Marine Institute.

Impact

Expanded services from 150 children to over

300

children, grades K-12

Created

16

New, permanent jobs

2012
  • Clearinghouse CDFI opens Las Vegas office
  • First Credit Facility to support CCDFI Construction lending – Charles Schwab Bank – $5 million
  • Second “Off Balance Sheet” Fund – CRA Investment Fund II – $35 million created and fully funded by banks
  • AHEAD Economic Development Program: Clearinghouse CDFI sponsors 3 grants totaling $150,000
2013
  • Awarded $80 million NMTC allocation & $8 million of Nevada State NMTC Authority
  • First round CDFI Fund Bond Guarantee Program participant: $100 million
  • AHEAD Economic Development Program: Clearinghouse CDFI sponsors 2 grants totaling $75,000

Cumulative lending exceeds

$1 Billion

2014
  • Service Area Expansion: CA, NV, AZ, NM, and Sovereign Nations in the Western United States
  • Achieved B Corp certification
  • $2.7 million Class A shares issued
2015
  • Clearinghouse CDFI merges with Arizona MultiBank CDC and opens a new Phoenix office
  • Clearinghouse CDFI becomes first CDFI to obtain a rating from S&P Ratings: ‘AA’ Stable
  • Second $100 million bond closed through the CDFI Fund Bond Guarantee Program
2016
  • Cumulative lending exceeds $1.4 billion
  • Awarded PLATINUM and FIVE STAR scoring in Global Impact Investing Rating System (GIIRS)
  • Awarded $65 Million New Markets Tax Credit Allocation
  • Funded First Native American NMTC project on reservation: Washoe Travel Plaza

25

Years

25

Years

2017
  • Awarded “Best for the World: Overall, For Customers, and Changemakers” by B Lab
  • Awarded “Civic 50 Orange County” by Orange County Business Journal
  • Awarded “Fastest-Growing Private Companies” by Orange County Business Journal
2018
  • Awarded $3.2 million Capital Magnet Fund Award
  • Awarded “Best for the World: Overall, For Customers, Changemakers, and Governance” by B Lab
  • Awarded “Civic 50 Orange County” by Orange County Business Journal
  • Awarded “Most Community-Minded Business” by Orange County Business Journal
  • Closed $150 million in CDFI Bond Guarantee Program (BGP) Round III ($350 million total)v
2019

Became the

First CDFI In The Nation

to cloose on

Opportunity Zone Project

  • Awarded Best for the World by B Lab including: “Best Overall for the World: Overall, For Customers, Changemakers, and Governance
  • Awarded $3 million Capital Magnet Fund Award
  • Awarded $65 million New Markets Tax Credit Allocation (Total $603 million)
  • Record net income of $6.8 million
  • CCDFI Women’s Network Launched
2020
  • Launched FVLCRUM Fund addressing racial wealth gap in the u.s.
  • Awarded $2 million Capital Magnet Fund Program Award
  • Ranked #58 in Real Leaders Top 100 Impact Companies in the World
2021
  • Clearinghouse CDFI opens Texas offices: Austin & Dallas
  • Voted one of the 50 most Community-Oriented Companies in Orange County, CA
  • Awarded Best for the World: “For Customers and Governance” by B Lab
  • Ranked #41 in Real Leaders Top 150 Impact Companies in the World
  • Originated $15.08 million in PPP lending round #2

Cumulative Lending Exceeds

$2 Billion