Community Loan Fund to acquire NCIC
by Steve Varnum
on October 13, 2023
The New Hampshire Community Loan Fund and Northern Community Investment Capital (NCIC) have reached an agreement that will enable the Community Loan Fund to acquire NCIC’s assets and programs.
This action is pending approval by New Hampshire regulatory authorities, likely within the next 60 to 90 days.
In the meantime, NCIC remains open for business and continues to offer commercial loans along with grant writing and project management services.
NCIC President Peter Corey said, “The joining of these two organizations enables NCIC to build upon its long legacy of positive economic development in northern NH and northeast Vermont and to leverage the Community Loan Fund’s strength and programs to bring further benefit to that area.”
“Teaming up with NCIC is an opportunity to deepen our commitment to North Country communities,” said Community Loan Fund President and CEO Steve Saltzman. “At the same time, we can preserve, and possibly extend, NCIC’s grant-writing assistance for small towns that want additional economic and community development. That’s high-impact work.”
The New Hampshire Community Loan Fund, based in Concord, NH, turns investments into loans and education to create opportunity and transform lives. We collaborate with a wide range of donors and investors, and with business, nonprofit and government partners, to provide the financing and support people need to have affordable homes, have quality jobs and child care, and become financially independent. Established in 1983, the Community Loan Fund was one of the first Community Development Financial Institutions in the nation and has received industry awards and recognition for social impact, financial strength, and performance.
NCIC is a 501(c)(3) non-profit economic development organization. Founded and registered in New Hampshire, NCIC provides commercial lending, grant writing, project management, and technical assistance grants to NH and VT businesses and municipalities with a focus on Northern NH and Northeast VT.