LAKE FOREST, CA, (August 22, 2017)—This month, Clearinghouse CDFI announced a $2.5 million Class A equity investment from CIT Bank, "the largest such investment in the organization’s 20-year history."
"Clearinghouse CDFI will use this investment to benefit low-income and distressed communities in the Western United States and Sovereign Nations. The $2.5 million investment will help Clearinghouse CDFI continue financing community facilities, affordable housing, commercial real estate, and other projects that create jobs and services in underserved areas. The resulting funds will specifically enhance community development efforts in Southern California, where CIT Bank is represented under the OneWest Bank brand, which is based in Pasadena, California."
Read the full press release here.