Affordable housing and local business ownership are cornerstones of thriving communities. LEAF will be able to expand both in New England to help build long-term economic growth thanks to recent financing from Boston-based Berkshire Bank, in partnership with a program from the Federal Home Loan Bank of Boston (FHLBB).
As a community development financial institution (CDFI), LEAF provides financial coaching and technical assistance and loans to underserved populations and communities that often lack access to traditional financial services. The recent financing was part of the FHLBB’s CDFI Advance Program, which partners with banks to provide CDFIs low-cost access to capital. FHLBB is a cooperative owned by hundreds of New England financial institutions, providing funding to its members to support local economic growth and affordable housing.
Berkshire Bank is a $12 billion, community-focused regional bank with more than 175 years of strength and stability. As their expertise and tailored financial solutions help individuals and businesses reach their full financial potential, Berkshire has become a trusted advisor its clients and communities depend upon. Berkshire Bank’s recently concluded, nationally recognized Community Comeback program exceeded its $5 billion goal to lend and invest across the company’s markets. A testament to the bank’s commitment to unlock the financial potential of the communities where its employees and clients live and work, the program focused on strengthening communities in four key areas: fueling small businesses; community financing and philanthropy; financial access and empowerment; and a healthy environment.
