First State Community Loan Fund is a nonprofit that since 2001 has provided five AFI grants with the objective to increase self-sufficiency for low-income families throughout Delaware.
First State Community Loan Fund emphasizes homeownership, postsecondary education, and business capitalization with the goal of creating innovative programs to increase self-sufficiency through asset accumulation. First State Community Loan Fund has been successful in creating strong statewide partners and in aiding participants’ use of other Federal and State assistance programs, including down payment assistance.
Partners
First State Community Loan Fund partners with Delaware State Housing Authority, YWCA of Delaware, Interfaith Community Housing Delaware, Nehemiah Gateway CDC, West End Neighborhood House, First State Community Action Agency, NCALL Research, Inc., and many financial partners to provide financial education, asset-specific training, case management, marketing, outreach, and one-on-one counseling.
Assets for Independence Grant History
Project Title
Delawareans Save! IDA Program V
Highlights/Outcomes
791 IDAs have been opened.
1,094 participants have received financial education.
$934,982 saved by participants.
211 participants have purchased an asset.
Total AFI Funding
Total AFI Grant Funding:
$1,300,000
Total Non-Federal Support: $1,300,000
Focus Population
First State Community Loan Fund focuses on eligible low-income families in Delaware, particularly residents of public housing and Wilmington’s Enterprise Community.
