Chicago Community Loan Fund
Chicago, IL
Challenge
Chicago Community Loan Fund (CCLF) provides financing and technical assistance for community stabilization and development efforts in low- to moderate-income neighborhoods throughout Chicagoland. In the four years since its last strategic plan, CCLF pivoted to address the challenges of a global pandemic and civil unrest in response to the murders of George Floyd and others. The tragic events also brought opportunities, in the form of significant new federal, state, and philanthropic resources that resulted in unprecedented growth and impact for CCLF. 2024 marked the end of their strategic plan and the retirement of their leader of over twenty years.
CCLF engaged Community Allies to support them in developing a strategic plan that would allow their internal structures and processes to catch up to their external growth and address the continuing needs of Chicago communities, all while navigating the uncertainty of the political, legislative, and funding landscapes. Community Allies brought in LifeSpring Consulting and Katrina Goins Consulting to provide deep CDFI-specific analysis and assessment.
Approach
The strategic planning process took place over a period of seven months. The process engaged a broad range of voices to influence strategy, inviting strategic thinking not only from board and staff but also from customers, funders, and partners doing aligned work. The broad inclusion was particularly important to cement the trust of key stakeholders in the face of a change in organizational leadership. The consultants put high value on staff input, understanding that perspectives from different departments, levels of responsibility, and tenure were important pieces of the strategy puzzle.
The process included a review of dozens of CCLF documents; surveys and interviews with board, staff, and customers; interviews with key stakeholders, including funders, partners, and competitors; and analyses of CCLF’s service geography, finances, competitors, and environmental shifts. Community Allies convened staff and board separately in half- day planning retreats early in the process and then for a full-day retreat together to refine priorities and begin to build an implementation plan and timeline.
Results
With Community Allies’ support, CCLF is now guided by its new four-year strategic plan, which was jointly developed by staff and board, along with a detailed Year 1 work plan and goals for Years 2-4. The strategic plan was designed to be a living, breathing document, with a fixed focus and priorities but room and process for individual objectives and timing to shift as internal and external conditions change. CCLF has installed its new President and finalized its application for CDFI certification renewal, based on the path laid out by the strategic plan.
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