Our Impact In Low Wealth Communities
About 80% of the City First loan portfolio, which last year grew by over 15% to $123 million, is comprised of real estate and business loans for projects and businesses located in low- to moderate-income communities, primarily in the DC neighborhoods east of 16th Street and in Wards 5, 7 and 8. In 2011, City First experienced a tremendous burst in loan volume, originating $47.2 million in new loans as compared to $18 million in 2010. In 2011, our last full year of data, 71% of those loans went to work in low- to moderate-income census tracts, 80% fulfilled our community development mission, and 70% of small business loans went to companies with annual sales of less than $1 million.
As important as those statistics are, we also measure performance by impact: How did loans originated by City First help the low-income communities we serve? In 2011, City First financed 362 units of affordable housing. Our loans helped small businesses stay in business, creating or retaining 300 jobs. And finally, our loans converted 157,844 vacant and unused square feet into useful and productive places to live and work. Since 1999, City First financing has been responsible for building or preserving 4,780 units of affordable housing and retaining or creating 2,863 jobs. Use the links below to examine the cumulative impact of our work over the past decade.