Community Development Financial Institution (CDFI) Grants - Mascoma Bank

Community Development Financial Institution (CDFI) Grants

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CDFI PARTNER GRANTS

When Mascoma Community Development (MCD) receives a fee through its New Markets Tax Credit activities, a portion is reinvested as a grant to support a Community Development Financial Institution (CDFI) partner that is local to the underlying NMTC project. This aligns with MCD’s goal of fostering positive change by supporting economic opportunity and sustained community transformation.

Mascoma Community Development has funded CDFI Partner Grants aimed at addressing community needs such as:

  • Childcare
  • Community health
  • Affordable Housing
  • Small business support

MCD has funded $343,750 in CDFI Partner Grants aimed at addressing the specific needs of the community as identified by our CDFI partners:

 

$148,750 For Childcare

 

New Hampshire Community Loan Fund is using its $48,750 grant to:

  • Address childcare needs in Greater Nashua, NH, through leveraging direct relationships with childcare centers and actively exploring state and local partnerships
  • Use a Business of Child Care support model to tackle the business needs of centers
  • Offer mini grants and in-depth technical assistance

Genesis Community Loan Fund  is using its $100,000 grant to:

  • Assess the capacity of childcare in Greater Madison, ME, and collaborate directly with local providers
  • Bring together financial resources to expand access to quality, affordable childcare
  • Provide financial technical assistance and underwriting for ready entrepreneurs and childcare business operators

$95,000 for Small Business Support

 

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Pathway Lending is using its $60,000 grant to:

  • Provide one-on-one technical assistance to small businesses through the Small Business Administration microloan program throughout Upper Cumberland County, TN
  • Improve the health and welfare of people in low-income communities, including women-owned, minority-owned, and veteran-owned businesses

Common Capital is using its $35,000 grant to:

  • Expand lending and internal capacity to provide direct technical assistance to small businesses in Western Massachusetts owned by low-to-moderate income individuals, BIPOC, and women
  • Enable borrowers to create additional jobs

$100,000 for Affordable Housing & Community Health

 

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BlueHub Loan Fund plans to use its $100,000 grant to:

  • Support the North Shore Community Development Coalition’s “El Centro” project in Massachusetts in the construction of a community health center and ~50 units of affordable housing for seniors
  • Support pre-development soft costs, including architectural and engineering costs
  • Devote funds to underutilized public spaces, including the Salem Harborwalk and public park, to create better public accessibility to the waterfront
  • Work with the City of Salem, MA, to make the area more resilient and better protected from climate change

 

Read more about Mascoma Community Development and our projects here.

Questions about community development lending through MCD? Please contact Managing Director, Dick Jennings.

In accordance with federal law and the U.S. Department of the Treasury policy, this institution is prohibited from discriminating on the basis of race, color, national origin, sex, age or disability. To file a complaint of discrimination, write to Department of the Treasury, Office of Civil Rights and Diversity, 1500 Pennsylvania Ave. NW, Washington D.C., 20220 or call (202) 622-1160.