Also in this issue:
> CRF Launches Morgan Stanley SBA 504 Program
> Grant and Social Investment Update
> Sam’s Club Giving Program Fuels Small Business Solutions
> CRF Welcomes Joan Barnes as Vice President of Marketing
> CRF Gets NMTC Allocation to Help Kick-Start Economic Recovery

CRF Launches Morgan Stanley SBA 504 Program

CRF launched a new $500 million program to help small businesses boost community investment and create new jobs. The Morgan Stanley SBA 504 Program will be available through CRF, which will work with a national network of financial institutions to facilitate the purchase of existing and new loans collateralized by first liens on commercial real estate originated as part of the SBA 504 program.

As cash-strapped small businesses finally can access the capital resources they need, they can reinvest in their businesses, creating jobs and helping build healthier communities.

"Morgan Stanley is working with the public sector to maximize the impact of the dollars it allocates towards economic development," said Mike Mantle, senior advisor in Morgan Stanley's Global Sustainable Finance Group. "We are pleased to work with these long-standing industry professionals to respond to this critical need identified by community development leaders."

By providing liquidity to community banks who lend to small businesses through the SBA 504 program, Morgan Stanley will enable participating financial institutions to limit credit exposure, reduce interest rate risk related to fixed rate loans, retain more liquidity and make more SBA first mortgage loans, helping small business owners obtain the long-term financing they need.

CRF has been helping connect communities with capital for more than 22 years, and we are continuing that role with the SBA 504 program and Morgan Stanley. This program has the potential to help hundreds of small businesses lead our country's economic recovery.

For more information about the Morgan Stanley SBA 504 Program, please contact Kevin Riba or Gary Holmquist. Complete terms are available at www.crfusa.com/SBA504.

Grant and Social Investment Update: CRF Receives Affordable Housing, Servicing and Business Loan Support

CRF is grateful for continued support from its partners in pursuit of jobs, housing and opportunity for people living and working in low-income communities.

Recently, CRF received grants, donations and social investments totaling more than $3.9 million. These investments will be used to support mortgage servicing, multi-family affordable housing and business loan financing, as well as CRF’s ongoing operations.

Ally Financial
Ameriprise Financial
Dominican Sisters of Hope 
Ford Foundation
GE Money Bank
Headwaters Foundation for Justice 
HSBC in the Community
HSBC Bank USA 
MetLife Foundation
TCF Foundation
Thrivent Financial for Lutherans Foundation
U.S. Bancorp Foundation
Xcel Energy Foundation
Individual Donors 

“Committed investment partners like these give CRF the necessary backing to help improve lives and communities,” said CRF founder and chief executive officer Frank Altman. “We are fortunate to have such tremendous support from these organizations.”

To make an investment in CRF, please contact Warren McLean, vice president of development.

Sam’s Club Giving Program Fuels Small Business Solutions

CRF’s $500,000 grant from Sam’s Club continues to help small businesses in need of new financing solutions.

With this generous grant from Sam’s Club to help finance its operations, CRF can focus its resources on creating new financial products and services to support small businesses and the communities they serve.  

The grant also supports a public education campaign, bringing attention to the issues of small business, job creation and community development in a series of public service announcements.

By creating jobs and opportunity for people living and working in low- and middle-income neighborhoods, small business owners can help ensure the future economic vitality of our urban and rural communities. But they can’t do it without financial resources. That’s where CRF, its lending partners and funders like Sam’s Club can help businesses grow, hire and thrive.

Learn more about Sam’s Club’s support for small business here.

CRF Welcomes Joan Barnes as Vice President of Marketing

CRF is pleased to introduce Joan Barnes as its new vice president of marketing. Joan will lead our marketing and communications department and seek new opportunities to position CRF as a thought leader among community development advocates.

Joan comes to CRF after running her own marketing agency, Sweetspot, since 2006. With experience in agency, corporate and nonprofit settings, Joan’s expertise in strategy and tactical implementation will help CRF develop stronger partner relationships and accomplish key objectives.

You can contact Joan at joan@crfusa.com

CRF Gets NMTC Allocation to Help Kick-Start Economic Recovery

On Feb. 24, CRF announced it received $77 million in federal New Markets Tax Credit (NMTC) funds, which will be used to help make loans to businesses located in low-income communities across the country.

CRF was one of 99 organizations selected from a pool of 250 applicants to receive an allocation, and $77 million was the largest amount awarded to 2010 applicants.

Since the program’s inception, CRF has received combined NMTC allocations totaling $674.5 million, making it one of the nation’s single largest NMTC allocatees focused solely on business financing.

Congress reauthorized NMTC last year, allocating $3.5 billion to the program for 2010. Applicants had requested more than $25 billion in credits, demonstrating the continued need for investment in low-income communities throughout the country.

At a time when businesses must help drive economic recovery, capital availability continues to be a barrier to investment. This NMTC allocation will play a key role in helping CRF drive capital to businesses so they can expand and begin hiring again.