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New Jersey Community Capital

16-18 W. Lafayette Street
Trenton, NJ 08608

Contact: David Scheck, President
Phone: 609-989-7766
Fax: 609-393-9401
URL: www.newjerseycommunitycapital.org
Email: njclf@njclf.com
New Jersey Community Capital

New Jersey Community Capital, a registered trade name utilized by Community Loan Fund of New Jersey, Inc. and its affiliates, improves communities by facilitating the flow of money and knowledge-creating wealth. New Jersey Community Capital also manages a real estate fund, New Markets Tax Credit fund, a small business investment company, and a charter school fund. Founded in 1987, New Jersey Community Capital has committed financing for nearly 550 projects totaling approximately $150 million.

Program

New Jersey Community Capital provides an array of community economic development investment options to socially-conscious investors who are interested in receiving both financial and social returns. New Jersey Community Capital then redeploys these investments to organizations and communities that have compelling needs but inadequate access to capital.

New Jersey Community Capital finances the creation and preservation of housing, particularly affordable housing, and commercial real estate. It also provides capital for the development and operations of early care and education centers, schools, health clinics, human and social service programs, cultural and arts institutions, and other community services. New Jersey Community Capital offers loans and investments to businesses that create financial returns for their owners and social returns for their workforce, the communities in which they operate, and the environment.

Client Population

New Jersey Community Capital primarily provides financial and technical assistance to low-income individuals and communities, as well as to organizations serving low-income individuals and communities, throughout the 21 counties of New Jersey. Half of New Jersey Community Capital's clients are minorities, 35 percent are African-American, 10 percent are Latino and five percent are Asian/Pacific Islander. Approximately fifty percent are women and 95 percent have household incomes at or below 80 percent of area median income. All of New Jersey Community Capital's clients live in semi-urban or urban settings.

Impact

New Jersey Community Capital has committed financing for nearly 660 projects totaling almost $225 million in the housing, community services and business sectors. In FY 2008, New Jersey Community Capital committed 34 loans and investments in the housing, business, and community service sectors totaling approximately $24.

Story

New Jersey Community Capital
North Star Academy Charter School of Newark is one of New Jersey’s first charter schools. North Star Academy primarily serves low-income middle and high school students who are 90 percent African American. New Jersey Community Capital used its New Markets Tax Credit allocation to allow North Star Academy to reduce its occupancy costs, therefore devoting more of its funding towards educating its students. In 2004, 100 percent of North Star Academy’s first graduating class was pursuing post-secondary education goals. This plan allowed North Star Academy to access funding it desperately needs in order to continue its high achievement. Full Story

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