In 2011, several community development finance stakeholders came together to form an alliance to define ways organizations might collaboratively attract capital, increase organizational capacity and product coverage, define policy opportunities and enhance communication amongst industry partners.
Members initially identified the CDFI Bond program as a perfect opportunity for the alliance. Although the initial CDFI Bond Program did not lend itself to smaller CDFIs, members of the alliance agreed that a statewide collaborative was still necessary.
Seeing the value of a strong unified network of CDFIs and community development financiers, the network formed the South Carolina Community Capital Alliance (Alliance), a statewide non-profit entity. Each founding member made an investment to raise the seed money needed for organizational development.