New Economy Loan Fund
The New Economy Loan Fund invests in social justice and community development ventures in NYC.
The New Economy Loan Fund promotes healthy, thriving communities by investing in projects that expand access to living wage jobs, affordable housing, green and cultural spaces, and other local needs. The Fund prioritizes projects that are based in NYC’s low income neighborhoods and communities of color and that promote cooperation, equity and social justice.
The Fund makes flexible, low-interest loans, as well as long-term investments. By prioritizing social impact above immediate return, we seek to foster projects that challenge the status quo, meaningfully engage community members in democratic decision-making, and build long-term assets and power.
The Fund supportS initiatives such as:
- Worker cooperatives, ESOPs, and other social enterprises
- Community land trusts and other forms of non-speculative housing
- Community gardens, farms and green spaces
- Community kitchens and other facilities
- Consumer and purchasing cooperatives
- Environmental sustainability projects
- Street vendors
- Community arts initiatives
- Matched savings and small loan programs, as well as peer lending circles
- Community development credit union start-ups
- Day laborer hiring halls and worker centers
- Other projects that expand economic opportunity and promote accountable community development
The Fund also provides training and ongoing support, as appropriate, and facilitates peer learning and collaboration among projects.
For more information, please contact us.