Jan 08New Name, Same Mission—Mercy Loan Fund is now Mercy Community Capital
For Immediate Release: January 9, 2020
Contact: Kate Peterson | 303.830.3443 | email@example.com
Mercy Community Capital is a leading Community Development Financial Institution (CDFI), and they’ve changed their name, but the mission remains—to work nationally with socially responsible affordable housing and community developers, providing innovative financing arrangements for creditworthy projects where conventional financing isn’t available.
DENVER—The name change reflects Mercy Community Capital’s (MCC) expanding business activities and the larger focus of providing catalytic capital where dollars make affordable housing deals possible. The name is being updated in concert with their new 2020-2024 Business Plan that includes doing more than just loans – e.g., mezzanine financing, equity-like products, investments in funds, microfinance, etc. MCC is a subsidiary of Mercy Housing Inc., the nation’s leading affordable housing nonprofit. This name change emphasizes MCC’s priorities at the community level and expands its focus from loans to capital more broadly.
MCC by the Numbers:
- $393 Million Total Amount Loaned
- $3.7 Billion Total Leveraged
- 74,140 Total Residents
- 30,074 Total Units
- 41 States
As a Community Development Financial Institutions (CDFI), MCC cares about the future of communities and works hard to ensure that the financial support is there for the long-term. Their 34-year history has been a story of growth and success. In 2019 alone they preserved 2,727 homes and maintained their Aeris credit rating of “AA+,” keeping MCC in the top 15% of CDFIs.
About Mercy Community Capital
For more than three decades, Mercy Community Capital (MCC), a leading Community Development Financial Institution (CDFI), has provided financing to support affordable housing and community development across the nation. MCC has focused exclusively on funding affordable housing and essential community infrastructure projects that support affordable housing. By collaborating with socially responsible developers, MCC has helped finance the development of single and multifamily homes for rental and homeownership. These developments help underserved communities, including people with low incomes, veterans, seniors, farmworkers, people who have experienced homelessness, and people with disabilities. MCC is a subsidiary of the affordable housing nonprofit Mercy Housing, Inc. (MHI), headquartered in Denver, CO. For more information, please visit mercycommunitycapital.org.
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