Community Preservation Corporation Awards $50,000 to Community Loan Fund

The Community Loan Fund was recently named one of ten recipients to receive grant funding from the Community Preservation Corporation’s new philanthropic initiative, CPC Connections. The CPC Connections grant program is an employee-led effort to identify community-based nonprofits doing important work in the CPC’s home state of New York. Eligibility for grant funding through CPC Connections was based on a competitive nomination and application scoring process. The grant program seeks to support New York State based non-profit organizations by aiding in their work related to closing the racial wealth gap, promoting and advancing environmental justice, and providing COVID-19 relief services and resources to the communities they serve.

“We’re proud to be able to support ten of our nonprofit partners through our new connections grant program” said Rafael E. Cestero, CEO of The Community Preservation Corporation. “As a nonprofit ourselves, we understand the critical role they play in providing access to the service and resources that support and empower residents. We hope that these grant dollars allow our partners to expand and enhance their work as well as the positive impact they create in their communities.”

“We take tremendous pride in being able to work with and provide support to non-profit organizations and small businesses across the Capital Region as we continue through the COVID-19 Pandemic” said Linda MacFarlane, Executive Director of the Community Loan Fund of the Capital Region. “The support of the Community Preservation Corporation will allow us to continue providing exemplary services and resources to BIPOC, women, and low-income owned businesses and non-profit organizations.”

The Community Preservation Corporation is a non-profit multifamily finance company that was founded in 1974 to provide financial resources to stabilize and revitalize underserved communities. Since it’s founding, the CPC has invested over $13 billion dollars to financing the creation and preservation of more than 222,000 units of housing across New York State.