The NewAlliance Bank Community Development Corporation is a wholly owned for-profit subsidiary of NewAlliance Bank, and invests in community projects through equity, debt and mezzanine financing. NewAlliance Bank Community Development Corporation reinvests in our communities by offering financial solutions and access to technical assistance. Here are just a few of the objectives we support:

• Small Business Growth
• Revitalization or stabilization of commercial and residential neighborhoods
• Affordable Housing
• Community Services
• Creation or retention of permanent jobs
• Long-term community growth and stability
• Other activities, services and facilities that promote public welfare

Whether you are helping to create new jobs or developing affordable housing, NewAlliance Community Development Corporation is available to help you succeed. We believe that community development is sound business.

Investing in our communities - it’s just good business!

NewAlliance Bank is investing $10 million through the NewAlliance Community Development Corporation, providing help for community organizations and projects that might not be eligible for conventional financing.

The money helps small businesses to grow and create new jobs. It also provides new affordable housing to help stabilize and revitalize under-served neighborhoods.

We work with and through community partners such as nonprofit organizations and private developers, who are actively engaged in helping their communities. We also work with other viable enterprises that cannot attract capital in traditional ways.

The work of our Community Development Corporation complements the ongoing reinvestment activities of NewAlliance Bank.

Examples of Community Development Activity

The Community Economic Development Funds’ (CEDF) mission is to make capital and technical assistance available to small businesses that have positive community impact. CEDF works with start-ups and existing businesses providing loans from $5,000 to $500,000 with flexible terms to directly support small businesses. NewAlliance Community Development Corporation has partnered with the CEDF, making a $1,000,000 investment dedicated to the development and growth of small businesses in both the Hartford and New Haven regions.

The Greater New Haven Community Loan Fund provides funding for affordable housing and community development. We invested $700,000 to support their efforts to make mortgages more affordable for the greater New Haven community.

The Sachem Fund is operated and managed by faculty members and students from the Yale School of Management. Its mission is to invest in start-up and early stage ventures located in greater New Haven.

The fund is capitalized with investments coming from Yale University, private investors and the NewAlliance Community Development Corporation.

For more information about the NewAlliance Community Development Corporation and its "NewAlliance for Neighborhoods" program contact:

Paul McCraven
President
NewAlliance Community Development Corporation
195 Church Street
New Haven, CT 06510
203.784.5001