A Shot in Our Arm – New Grants Support CRF’s Mission

A Shot in Our Arm – New Grants Support CRF’s Mission

By Warren McLean, Vice President of Development

CRF has recently received several grants that gave us just the shot in the arm we needed.

The recession continues to affect credit-starved small businesses and distress our communities. One block, one business, one community at a time, CRF is playing a vital role in helping bring about meaningful economic recovery.

These grants will help CRF offset the declining availability of credit, helping small businesses retain and add employees, improve their facilities and get to the next level in their business growth.

The Minnesota Department of Commerce, Office of Economic Security awarded CRF a $500,000 grant to help small businesses improve the energy efficiency of their facilities.

Bank of America gave us a $100,000 grant for general operating support.

The Minneapolis Foundation awarded us $50,000 for our work supporting Minneapolis-area non-profits and small businesses, including minority, immigrant and women business owners.

The Richard and Ethel Herzfeld Foundation gave us a $50,000 grant (one in a series of gifts to CRF) to help us target distressed communities in Milwaukee.

The GE Money Bank gave us $25,000 to help fund community lending programs in the Twin Cities and ensure that minority, immigrant and women business owners have the resources they need to invest in their businesses.

Chase awarded CRF $125,000 to bring our high-touch mortgage servicing approach to affordable housing organizations in six new states – Illinois, Florida, Michigan, New York, Ohio, and Texas (see “A Place to Call Home” ).

A great big thank you to all CRF funders and supporters!