{"id":282194,"date":"2026-03-02T10:00:44","date_gmt":"2026-03-02T15:00:44","guid":{"rendered":"https:\/\/ncrc.org\/?p=282194"},"modified":"2026-02-27T15:48:59","modified_gmt":"2026-02-27T20:48:59","slug":"a-tool-for-every-type-of-need-capital-for-change-unlocks-community-development-funds-for-connecticuts-disadvantaged-communities","status":"publish","type":"post","link":"https:\/\/ncrc.org\/a-tool-for-every-type-of-need-capital-for-change-unlocks-community-development-funds-for-connecticuts-disadvantaged-communities\/","title":{"rendered":"\u201cA tool for every type of need\u201d: Capital for Change unlocks community development funds for Connecticut\u2019s disadvantaged communities"},"content":{"rendered":"

The legacy of redlining in the US has left some communities at a considerable economic disadvantage, resulting in challenges that can only be addressed by strategically deploying accessible capital. However, many banks avoid lending in these communities, further exacerbating their shortage of quality and affordable housing.\u00a0<\/span><\/p>\n

Capital for Change<\/span><\/a> was born from a need to fill these gaps in communities across Connecticut. Established in 2016, Capital for Change is a community development financial institution (CDFI) headquartered in Wallingford, Connecticut that provides accessible financing options in communities throughout the state.\u00a0<\/span><\/p>\n

\u201cWe really listen to what the community is trying to accomplish and the challenges they\u2019re facing to understand how our financing can help them remove barriers and solve problems,\u201d said Capital for Change\u2019s CEO Diane Smith.\u00a0<\/span><\/p>\n

Capital for Change\u2019s programs fall into two areas: lending assistance and housing counseling services. On the lending side, Capital for Change offers a variety of financing options, such as <\/span>commercial loans,<\/span><\/a> small business financing<\/span><\/a> and <\/span>consumer lending<\/span><\/a>. Some of Capital for Change\u2019s most noteworthy loan programs include energy-efficiency upgrades for homeowners, financing to build or preserve affordable housing and working capital loans for nonprofits.\u00a0<\/span><\/p>\n

In total, Capital for Change has deployed roughly $110 million throughout Connecticut for community and economic development programs and initiatives. That has included more than $95 million in financing for affordable housing construction and preservation and $225 million for homeownership support for more than 25,000 households. During the last fiscal year, the organization\u2019s financing efforts helped preserve 376 affordable housing units, created nearly 50 jobs and prevented 31 households from being evicted.\u00a0<\/span><\/p>\n

Capital for Change also provides one-on-one <\/span>housing counseling services<\/span><\/a> and homeownership workshops. The organization hosted 109 counseling sessions last year, with 13 participants moving on to purchase a home of their own.\u00a0<\/span><\/p>\n

\u201cWe’ve got a tool for every type of need in the community development space and that allows us to be able to participate more strategically,\u201d Smith said. \u201cSo, we don’t have to do everything, but we might have the thing that you need that makes the difference.\u201d\u00a0<\/span><\/p>\n

Working with NCRC has helped take Capital for Change\u2019s work to new heights. For example, NCRC regularly convenes members from the for-profit and mission-driven lending worlds to explore how they can support one another. NCRC\u2019s community benefit agreements have also helped Capital for Change unlock financing opportunities via traditional banks and lenders for historically disadvantaged communities.\u00a0<\/span><\/p>\n

\u201cIt’s where banks and community organizations get to have the conversations about what’s important to them and what they can and cannot do,\u201d Smith said. \u201cNCRC is building the table where that’s possible.\u201d\u00a0<\/span><\/p>\n

 <\/p>\n

Robert Davis is a Contributing Writer.<\/em><\/p>\n

Photo courtesy of Capital for Change.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The legacy of redlining in the US has left some communities at a considerable economic disadvantage, resulting in challenges that can only be addressed by strategically deploying accessible capital. However, many banks avoid lending in these communities, further exacerbating their shortage of quality and affordable housing.\u00a0 Capital for Change was born from a need to 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Davis","author_link":"https:\/\/www.robertdaviswrites.com\/"},"uagb_comment_info":0,"uagb_excerpt":"The legacy of redlining in the US has left some communities at a considerable economic disadvantage, resulting in challenges that can only be addressed by strategically deploying accessible capital. However, many banks avoid lending in these communities, further exacerbating their shortage of quality and affordable housing.\u00a0 Capital for Change was born from a need to…","_links":{"self":[{"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/posts\/282194","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/users\/4019"}],"replies":[{"embeddable":true,"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/comments?post=282194"}],"version-history":[{"count":0,"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/posts\/282194\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/media\/282195"}],"wp:attachment":[{"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/media?parent=282194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/categories?post=282194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncrc.org\/wp-json\/wp\/v2\/tags?post=282194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}