PRESS RELEASE
05/18/09
Contact: Charity Sack, (703) 647-2337

NCB Capital Impact Invests $200 Million to Keep Communities in Business

Community Development Non-Profit Makes Record Investments in
Health, Education, and Affordable Homeownership in 2008 

WASHINGTON, D.C. (May18, 2009) — NCB Capital Impact revealed in its annual report released this month that it disbursed a record $208.1 million for education, health care, and affordable housing programs that benefit low- and middle-income communities across the country in 2008.

Despite the economic downturn that forced the largest lending institutions in the country to reduce access to capital for those most in need in 2008, NCB Capital Impact has continued investing in traditionally higher-risk communities thanks to the non-profit organization’s innovative approach to community lending that includes provisions for technical assistance, policy outreach and public/private partnerships that are necessary for building sustainable communities.     

“We are proud of the financial disbursements NCB Capital Impact was able to make in 2008 but our work doesn’t end with the investment of capital,” said Terry Simonette, president and CEO of NCB Capital Impact. “When capital markets were drying up, we were able to ensure the availability of capital to those communities most in need, and most importantly, we provide communities with supports that ensure our investments and our partners’ work equate to long-term economic development.” 

Since its start in 1983, NCB Capital Impact’s innovative approach to economic development has yielded:

• $1.195 billion in disbursements for underserved communities;
• 33,132 units of multifamily homeownership or other affordable housing and $164 for affordable housing;
• 137,396 underserved students in schools and $285 million for education facilities;
• 8,900 affordable assisted living units for seniors and people with disabilities;
• 2.9 million square feet in community health care space serving 305,300 people annually;
• $420 million for community health centers;
• 25,000 jobs for low-income individuals; and
• $266 million for businesses and other community-building organizations.

“Despite today’s tough economy, NCB Capital Impact remains committed to working with the nation’s underserved communities to create sustainable access to critical financing and expertise in community development and long-term care,” said Simonette. “In a challenging economic climate like the one we’re in now, opportunity is the silver lining.” 

For more information about NCB Capital Impact’s approach to innovative community lending in 2008, please review its annual report at www.ncbcapitalimpact.org/annualreport.

About NCB Capital Impact
NCB Capital Impact, the non-profit affiliate of NCB, provides financial services and technical assistance to create more affordable homeownership, long-term supports innovations, and facilities for health care centers and charter schools. To learn more about NCB Capital Impact, and its programs and initiatives in advancing education, affordable housing, health care and long-term care for low- to moderate-income individuals, visit www.ncbcapitalimpact.org.

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