Because where we’ve been helps define where we’re headed.

Let’s travel back to 1988. In response to growing concerns of the poverty in Wilmington, the Episcopal General Convention called for the church and the Delaware community to support a new community economic initiative.  Under the supervision of Bishop Cabell Tennis of the Episcopal Diocese of Delaware, a diverse collection of community members came together to form First State Community Loan Fund in 1990. 

The goal? To use proven business strategies in a new and innovative way, providing low-interest loans and sound business advice to community-based organizations and entrepreneurs in low-income communities.  Since our incorporation in 1992, FSCLF has grown significantly and continues to be an essential element of the Wilmington community.

Take a look at an abbreviated timeline:

• August 1993: First State Community Development Loan Fund moves its location to 300 Delaware Avenue in Wilmington. 
• November 1993: First State CDLF provides their first loan to Wayne Murray to finance a hardware store.
• September 1994: First State closes on their first housing loan for $55,000 with the Milford Housing Development Corporation, helping to finance two low-income housing units.
• 1997: To date, FSCLF has lent $1 million to the Delaware community.
• November 1999: FSCLF receives a $645,000 Financial Assistance Award from the U.S. Department of Treasury to provide capital for the loan fund.
• 2000: FSCLF moves to the Community Service Building in Wilmington.
• 2001: Launced Delawareans Save! Individual Development Account.
• Present: FSCLF, since conception, has made 877 loans totaling over $10 million.