? ffice of the City Treasurer Melissa Cqnyears-Ervin • Treasurer • City of Chicago
To: Members of the City Council From: From: Treasurer Melissa Conyears-Ervin Date: Nov 10, 2022
Re: Treasurer's Annual Report on Chicago Community Catalyst Fund LLC for 2020
As required by Section 2-32-622(g)(ii) ofthe Municipal Code of Chicago (the "Municipal Code"), the City Treasurer hereby reports to the City Council on the performance ofthe Chicago Community Catalyst Fund LLC (the "CCCF") for 2020, as set forth below:
The investment performance of 2020 as of the funds inception date of 04/30/2020 as reported on city records was -.0.18% on annualized terms.
During 2020, no other Investors made an investment in the CCCF.
CCCF invested $21mln through Small Business Resiliency Loan Fund Program ("SBRLF"), the program invested as followed:
$10million to Accion/Chicago Inc., as follows:
04/30/20 - $2,500,000.00
05/18/20 - $2,500,000.00
06/01/20 - $5,000,000.00
$1 million on 07/17/20 to Chicago Neighborhood Initiatives Micro Finance Group, Inc. c $10 million on 11/2/2020 to CRF CSBRF II, LLC
Each fund deployed emergency capital to small business through Chicago to ensure their survival through the Covid Crisis. The number of loans issued was 762. An itemized list follows:
Chicaqo City Clerk-Council Di',1,
2022 NOV 10ah11:25
1 2 1 North LaSalle Street, Room 1 D6 • Chicago, Il 6CSC2 • Telephone: 3 1 2.744.3356
Loan Servicer Business Name Primary ContactName Project Address Unel Project Address City Project AddressS tate Project Address ZipCode Actual Loan Amount
Accion/Chicago Inc Cornell Group LLC matthew szontagh 3473 S Martin Luther King Drive Chicago IL 60616 $50,000 00
Accion/Chicago Inc (PLUS)KAM LLC Michael Kelley 6855 S Euclid Ave Chicago IL 60649-1509 $50,000 00
Accion/Chicago Inc 'Lame's Bake Shop LLC Rachel Bernier-Green 135 N Kedzie Ave Chicago IL 60612-1823 $32,700 00
Accion/Chicago Inc 275S West Harrison LLC Helen Shiller 601 S California Ave Chi...
Click here for full text