Clearinghouse CDFI Completes Repayment of Its Third Offering, Closing a Foundational Chapter

Milestone achievement marks two decades of transformative impact and growth

LAKE FOREST, Calif., Feb. 12, 2025 /PRNewswire/ -- Clearinghouse Community Development Financial Institution (Clearinghouse CDFI) proudly announces the full repayment of its $28 million Third Private Placement Offering, marking the conclusion of a significant chapter in the organization's history. The Third Offering, initiated on December 31, 2004, was the final installment of the three foundational capital raises that established the groundwork for Clearinghouse CDFI's mission to provide impactful community development finance.

When the Third Offering began, Clearinghouse CDFI managed just $45 million in total assets. The prospect of reaching a maturity date two decades later may have seemed distant at the time. Today, as the company celebrates its repayment milestone, its total assets stand at an impressive $834.4 million—a strong testament to the company's sustained growth, resilience, and mission-driven success.

"This moment is not just the end of an offering; it's the closing of an era that set the stage for who we are today, inspiring us to continue leading with purpose and vision into the future," said Douglas J. Bystry, President and CEO of Clearinghouse CDFI. "The Third Offering empowered us to bridge funding gaps, make significant investments in underserved communities, and solidify our commitment to making meaningful impact."

A Legacy of Impact
The Third Offering, totaling $28 million, provided crucial capital during the organization's early years, allowing Clearinghouse CDFI to fund transformative projects across underserved communities. The success of this offering was made possible through the participation of several key financial institutions, including Fremont Bank with $8M; Wells Fargo and Pacific Western Bank (via CapitalSource Bank, now Banc of California) with $5M each; First Bank with $4M; and BBVA (originally Guaranty Bank), California Bank & Trust (originally Vineyard Bank), and US Bank with $2M each. Their commitment played a crucial role in Clearinghouse CDFI's ability to provide vital funding where it was needed most.

Over the past two decades, Clearinghouse CDFI has:

• Funded $2.7 billion in loans for 2,733 community projects.
• Supported the creation or retention of over 43,856 jobs.
• Facilitated the development of 13,548 affordable housing units.

These achievements underscore the vital role that the Third Offering played in allowing Clearinghouse CDFI to deliver on its mission.

A Future Built on Strong Foundations
As Clearinghouse CDFI repays its Third Offering, it enters a new phase of growth, supported by innovative capital-raising strategies, such as its recent $20 million equity raise. This ongoing evolution positions Clearinghouse CDFI to expand its lending capacity and increase its positive impact in underserved communities nationwide.

About Clearinghouse Community Development Financial Institution (Clearinghouse CDFI): Clearinghouse CDFI addresses unmet credit needs throughout the U.S. and in Indian Country through direct lending, equity investments, and financial assistance. Since 1996, Clearinghouse CDFI has helped bridge the gap between conventional lending standards and the needs of low-income, distressed, and communities of color. Clearinghouse CDFI is also a B Corp—a certification received from the nonprofit B Lab. B Corps are companies who meet rigorous standards of social and environmental performance, transparency, and accountability, and use business as a force for good. More information is available at www.ccdfi.com.  

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SOURCE Clearinghouse CDFI