What is CCLF’s vision? CCLF’s vision of itself is as a kind of com-
What are the unique challenges facing nonprofit start-ups?
munity activist. Our ultimate goal is to improve the lives of the people
Well, for example, Geneva Foundation is a group home that offers
who live in the communities we serve. By providing patient, flexible
supportive services to help troubled youths reunite with their fami-
financing and technical assistance to community organizations “on
lies. Lisa Boone, founding executive director, had a dynamite business
the ground,” CCLF enables them to better serve and care for their
plan, impeccable credentials and immeasurable energy, but no formal
clients. In this way, CCLF plays a part in improving those individuals’
organizational track record and was trapped in a financing “catch-22.”
quality of life. What kind of “catch-22” did Geneva Foundation face? CCLF is a smaller “fish” in the Chicago CDFI market. What is
Under pressure from the seller, Geneva Foundation needed financing
your strength? We’ve carved a niche for ourselves by making loans
quickly to acquire and rehabilitate a mixed-use building in West
to new and emerging or small to mid-size groups that could not get
Humboldt Park. No lender would touch it until Geneva had a DCFS
financing elsewhere, even sometimes from other CDFIs. And we’ve
contract for collateral. Geneva could not receive a contract unless it
done it without a single loan loss in the last 10 years.
was licensed by the state; but a new agency can not be licensed until it has a facility. CCLF stepped in, waived the precertification require-
What do you mean CCLF finances projects “other lenders
ment, and closed the loan in record time so Geneva Foundation didn’t
run from”? Small, start-up or emerging organizations with, for
lose its building.
example, slightly overleveraged balance sheets or “grassroots” boards do not scare us. When we find organizations who are tenacious, dedicated, hard working and quick studies, CCLF likes to take a chance on them. 8|9
geneva foundation geneva foundation is a group home that offers supportive services to help troubled youths reunite with their families
Geneva Foundation staff and residents cooking dinner
Geneva Foundation founding executive director Lisa Boone