Eastern Bank Foundation Honors New Hampshire Community Loan Fund with Community Advocacy Award

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BOSTON–(BUSINESS WIRE)–Eastern Bank Foundation is pleased to announce that the New Hampshire Community Loan Fund (the “Community Loan Fund”) is the recipient of the 2022 Community Advocacy Award for its innovative efforts in lending, capital, training and education. technical support that helps businesses and individuals. across New Hampshire with the achievement of economic stability. A 38-year-old Community Development Financial Institution (CDFI), the Community Loan Fund helps New Hampshire residents access affordable housing, secure jobs and quality child care, and reached 170 cities and every county in New Hampshire. The impact reported by the Community Loan Fund includes more than $400 million in loans and the creation or preservation of more than 10,800 affordable housing units and 3,900 jobs.

“For decades, the New Hampshire Community Loan Fund has laid the foundation for many people to thrive in New Hampshire by extending the reach of conventional lenders and public institutions and bringing people and institutions together to solve problems,” said said Nancy Huntington Stager, President and CEO. of the Banque de l’Est Foundation.

The Community Loan Fund pioneered the role of a CDFI as a financial partner in revitalizing economically challenged and underserved communities, and serves as a catalyst to enable traditionally underserved people to participate more fully in the economy. of New Hampshire. Its work with small businesses focuses on providing loans, capital and technical assistance. He has invested millions of dollars and helped secure millions more in small business loans in sectors such as manufacturing, technology, retail and energy. It has also facilitated nearly 80,000 hours of technical assistance to small businesses.

Steve Saltzman, President and CEO of the New Hampshire Community Loan Fund, said:The New Hampshire Community Loan Fund aims to transform lives by bringing economic justice to people, neighborhoods and communities that have been historically disenfranchised.

Zachery Palmer, Community Business Lender at the New Hampshire Community Loan Fund added, “Closing the wealth gap and solving disparities requires a multi-faceted, evolutionary approach. By creating new, innovative capital structures that help community businesses with the financial resources and tools to thrive, we are moving closer to a fair economy.

The celebration of Eastern’s Community Advocacy Award coincides with the Eastern Bank Foundation’s commitment to economic inclusion and mobility through its philanthropy, volunteerism and advocacy, including advancing equity in the small business ecosystem. Recognizing that entrepreneurs and business owners are building blocks of the local economy, the Foundation seeks to fund organizations that create supportive ecosystems for business owners in historically disadvantaged communities, including Black, Latinx, Asians, Women, LGBTQ+, Veterans, and People with Disabilities.

To learn more about all the 2022 Community Advocacy Award winners, visit: https://www.easternbank.com/communityadvocacyawards

About Eastern Bank Foundation

Established in 1994, the Eastern Bank Foundation is the philanthropic arm of Boston-based Eastern Bank. Through philanthropy, employee volunteerism, advocacy, and collaborations with other businesses and community partners, the Eastern Bank Foundation meets community needs and supports lasting solutions to our communities’ toughest challenges in the eastern Massachusetts, southern and coastal New Hampshire and Rhode Island. To learn more, visit eastbank.com/foundation.

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