Who We Are

Saving houses from foreclosure. Revitalizing aging housing stock. Investing in community leaders.

This is the work of the Hartford Community Loan Fund: to provide and promote just and affordable financial services that benefit low-wealth residents of the communities we serve.

About Us

HCLF helps our borrowers overcome barriers—such as credit history, language, cultural differences, financial literacy, or lack of economic assets - that can isolate people from the financial mainstream.

HCLF helps create vital and stable Hartford neighborhoods. We’re in touch with what works in our community, so our investors can achieve the maximum impact for their dollar: more jobs created, new homeowners financed, affordable housing units rehabbed, and tax revenue generated. We offer resources and support to strengthen both people and places. 

Our Lending Philosophy

HCLF recognizes multiple bottom lines: we are responsible to our investors, but also to our community. We measure the value of what we do by portfolio performance and return on investment, but also by our community impact, including:

• Affordable housing units rehabbed or created
• Private and public sector capital invested in projects financed by HCLF
• Jobs created by HCLF-financed projects
• Homeowners supported
• Increased municipal tax revenue generated by properties rehabbed with HCLF financing
• Changes in public and private sector policies affecting the economic health of low-wealth residents in our target market

To serve the area's low-wealth residents, HCLF’s activities are focused on:

People: Many of Hartford's urban residents operate outside the financial mainstream. HCLF estimates that approximately 45% of city residents have credit scores below 620, and 50-60% of city residents are unbanked or underbanked. In collaboration with other community stakeholders, HCLF has worked with local nonprofits to create a network of financial empowerment centers through which Hartford residents can receive financial coaching, employment assistance, and help accessing public benefits. 

Products: HCLF offers construction-rehab loans for the renovation of blighted residential and mixed-use properties. More recently, we developed a Tax Lien Foreclosure Prevention loan to help eligible Hartford homeowners avoid foreclosure from tax lien investors. 

Policy: Existing policies and systems sometimes work against the economic empowerment of Connecticut's low-wealth residents, so HCLF is an advocate on relevant policy matters which have an impact on our neighbors.

Since 2014, for example, we've worked for reform of the City of Hartford’s policies and practices involving the municipality's sale of real estate tax liens to outside investors. We've also been at the forefront of an initiative which would increase access to healthy, affordable foods for city residents. 

Our Roots

The roots of HCLF reach back to the pioneering work of some-time Connecticut resident and CDFI visionary Chuck Matthei. What is now known as HCLF itself began in 1994, when three political leaders representing Hartford's southend neighborhoods, State Senator William Dibella, State Representative (now Senator) John Fonfara, and City Councilman (later State Representative) Art Feltman secured State bond funding to capitalize a new nonprofit loan fund, the South Hartford Initiative (SHI). In 2002, SHI was certified by the US Treasury Department as a community development financial institution (CDFI). In 2006, SHI's Board voted to broaden its mission to include all of Hartford's neighborhoods, changing the name of the organization to Hartford Community Loan Fund. In 2019, the Board voted to expand Hartford Community Loan Fund's lending territory to include all of Connecticut.

HCLF grew beyond the original funding source to become a model of public/private collaboration, originating home improvement loans along with small business loans with participation from local banks. In 2008 HCLF transitioned its investment focus to the rehab of Hartford homes, a market niche that wasn't being effectively served by most mainstream lenders. 

Our work going forward will continue to evolve with the needs and opportunities of our community

Our Staff

Board of Directors

FAQs