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36

A Kinder, Gentler Lender
 

Start-up community bank provides capital for small businesses and for affordable-housing developers.
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Just when we'd had our fill of bank failures, Community Capital Bank opened as the first community development bank in New York City. Capitalized at $6 million and chartered to provide capital for small businesses and for affordable-housing developers, the bank will make loans at market rates to companies in low-to-moderate-income neighborhoods. Chairman Lyndon Comstock says tight credit, a neglected market, and little competition make the timing for the start-up ideal.

-- Anne Murphy

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Last updated: May 1, 1991




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