Opportunity is our mission. Community Capital NY (CCNY) is as an economic catalyst, a nonprofit providing alternative financing and critical resources that transforms and strengthens the prosperity of our communities and the lives of the people within them. CCNY provides underserved and disadvantaged neighborhoods and individuals with responsible and affordable housing, small business, child care, and energy efficiency loans that foster opportunity, change lives and create impact. Community Capital New York, a not-for-profit alternative lender, is a critical resource for community and economic development. We provide 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. We align 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’s loans are to women and minorities. We work outside the margins of conventional finance to bring individuals and communities into the economic mainstream. Snapshot of our impact Invested $341 million in our communities Generated $10 million in tax revenues for the region on an annual basis Created close to 3,000 jobs—our average loan creates or retains five jobs Empower women and minorities, who comprise 75% of our loan clients Funded 2,000 affordable homes Mission Opportunity is our mission. Community Capital New York serves as an economic catalyst, providing alternative financing that transforms and strengthens the prosperity of our communities and the lives of the people within them. Company Overview Formerly known as the Westchester Housing Fund, Community Capital New York changed its name to reflect our growing menu of programs and our expanded service area that now includes Dutchess, Orange, Putnam, Rockland, Sullivan, Ulster and Westchester counties in the Lower Hudson Valley. Community Capital New York is a certified Community Development Financial Institution (CDFI). Community Capital New York is a responsible and cost effective steward for community and economic development, recycling funds provided by the government, corporations and individual “social impact” investors to maximize opportunity. Our loan programs have generated thousands of dollars of tax revenues for our communities, lessened the carbon footprint and made dozens of Main Streets more vibrant and sustainable. Social Entrepreneurs We are social entrepreneurs on two fronts: small businesses and housing. Small businesses continue to be the backbone of the U.S. economy. In the Hudson Valley region, 90% of jobs are found in companies employing 15 or fewer employees. Small businesses create wealth for their owners, jobs for their employees, tax revenues for their communities and benefits for their customers. We drive large scale change by investing in entrepreneurship locally. Scores of entrepreneurs have a chance at success due to the support they receive from our access to capital, workshops, webinars, training sessions and one-on-one technical assistance and business coaching. The lack of affordable housing is one of the most daunting economic and social challenges in our region. Despite access to NY financial markets, exceptional universities and transportation and communication systems, Westchester and neighboring counties are losing their workforce. Young people are unable to return to the communities where they grew up because they can’t afford housing as entry level workers. And, retirees find they cannot afford to live enjoyable lives in the communities they helped to build. By funding affordable housing, Community Capital avoids millions of dollars lost in terms of innovation, productivity and knowledge.
This organization has not provided an impact summary.
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