LAKE FOREST, Calif., Oct. 24, 2018 /PRNewswire-PRWeb/ -- Clearinghouse Community Development Financial Institution (Clearinghouse CDFI) announced today a $50,000 Class A equity investment from Partners Bank of California. This is Partners Bank of California's first investment with Clearinghouse CDFI.
"It's important to always consider and be passionate about improvements to the community we serve; especially for the underserved elements of that community," said Chris Walsh, President, Partners Bank of California. "We strive to support innovation, guidance and doing whatever is possible to improve all lives in our community. That's why Partners Bank of California is thrilled to have an opportunity to invest in our community's future and Clearinghouse CDFI."
Clearinghouse CDFI will use this investment to benefit low-income and distressed communities in California. The $50,000 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.
"We're very pleased that Partners Bank of California chose to invest in Clearinghouse CDFI as a way to effectively deploy capital into the communities they serve," said Douglas J. Bystry, President and CEO of Clearinghouse CDFI. "As our neighbors in Orange County, we hope to use these funds to directly touch communities in our shared backyard and continue to do more with Partners Bank of California in the future."
Clearinghouse CDFI has funded $1.55 billion in total loans for over 1,820 community projects over the past 21 years. These projects have created or retained more than 18,000 jobs and benefit over 1.5 million individuals. This includes the rehabilitation of more than 16.9 million square feet of blighted properties. These projects have benefited over 610 separate underserved communities throughout California, Nevada, Arizona, New Mexico, and Indian Country.
About Partners Bank of California:
Founded in 2007, Partners Bank of California provides a wide array of personal and commercial banking services as well as a variety of business lending solutions including lines of credit, commercial real estate, new construction financing, equipment/industrial and SBA/State Government guaranteed loans. Headquartered in Mission Viejo, California, Partners Bank currently holds assets totaling over $213 million and is proud to serve the unique and diverse banking needs of individual and commercial clientele throughout Southern California. Member FDIC. More at: https://www.partnersbankca.com.
About Clearinghouse Community Development Financial Institution (Clearinghouse CDFI):
Clearinghouse Community Development Financial Institution (Clearinghouse CDFI) addresses unmet credit needs in California, Nevada, Arizona, New Mexico, and Sovereign Nations in the Western United States: https://www.clearinghousecdfi.com/impact/impact-map. Clearinghouse CDFI is an industry leader helping to bridge the gap between conventional lending standards and the needs of low-income and distressed communities. Clearinghouse CDFI is also a B Corp--a certification received from the nonprofit B Lab. B Corps are companies who meet rigorous standards of social and environmental performance, transparency, and accountability, and use business as a force for good. More at: https://www.ccdfi.com.
SOURCE Clearinghouse Community Development Financial Institution
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