Partners Bank Of California recently made a $50,000 equity investment in Clearinghouse Community Development Financial Institution (Clearinghouse CDFI). This marks the first such investment by Partners Bank of California in Clearinghouse CDFI, demonstrating a commitment to community development and financial inclusion.
Partners Bank of California’s Commitment to Community
Chris Walsh, President of Partners Bank of California, emphasized the bank’s dedication to serving the community, particularly its underserved members. He stated that the investment reflects the bank’s mission to support innovation and improve lives within the community. Partners Bank of California views this investment as a contribution to the future of the community.
Investing in Underserved Communities
Clearinghouse CDFI will utilize the investment to support projects benefiting low-income and distressed communities in California. The funds will be allocated towards financing community facilities, affordable housing, commercial real estate, and other initiatives that generate employment opportunities and essential services in underserved areas. This partnership allows Partners Bank of California to directly impact the communities it serves.
Douglas J. Bystry, President and CEO of Clearinghouse CDFI, expressed his appreciation for Partners Bank of California’s investment and its commitment to deploying capital within the communities they both serve. As neighboring institutions in Orange County, they anticipate collaborating further on future projects.
Clearinghouse CDFI’s Impact
Over the past 21 years, Clearinghouse CDFI has provided over $1.55 billion in loans, funding more than 1,820 community projects. These projects have created or preserved over 18,000 jobs and positively impacted over 1.5 million individuals. Furthermore, Clearinghouse CDFI’s efforts have led to the rehabilitation of more than 16.9 million square feet of deteriorated properties across underserved communities in California, Nevada, Arizona, New Mexico, and Indian Country.
About Partners Bank of California
Established in 2007 and headquartered in Mission Viejo, California, Partners Bank of California offers a comprehensive range of personal and commercial banking services. They specialize in business lending solutions, including lines of credit, commercial real estate financing, new construction loans, equipment and industrial financing, and SBA/State Government guaranteed loans. With assets exceeding $213 million, Partners Bank of California is dedicated to meeting the diverse financial needs of individuals and businesses throughout Southern California.
About Clearinghouse CDFI
Clearinghouse CDFI addresses the unmet credit needs of underserved communities in California, Nevada, Arizona, New Mexico, and Sovereign Nations in the Western United States. As a leading institution bridging the gap between traditional lending and the requirements of low-income and distressed communities, Clearinghouse CDFI holds a B Corp certification, signifying its commitment to social and environmental performance, transparency, and accountability. Clearinghouse CDFI leverages business as a force for good.
