New Economy Project’s loan funds are co-designed with community partners to serve local needs and to advance economic, racial, and gender justice.
New Economy Project currently operates the New Economy Loan Fund, which supports cooperative, community-based initiatives in NYC neighborhoods. The Fund provides flexible, low-cost loans and investments to worker and consumer cooperatives; community solar energy initiatives; community land trusts; and more.
New Economy Project previously operated:
- NYC DACA Fund, which provided 0%-interest loans and rapid-response grants to nearly 1,000 Deferred Action for Childhood Arrivals (DACA) applicants in NYC. The program, which we operated in partnership with community and legal services organizations and community development credit unions, was replicated in other parts of the country.
- NYC Foreclosure Prevention Gap Loan Fund, which helped hundreds of low income New Yorkers avoid foreclosure as a result of predatory lending. The Fund preserved tens of millions of dollars in home equity between 2008 and 2013. New Economy Project worked with NYC and NYS agencies to replicate and expand the Gap Loan Fund model, before winding down our program.