Delivering additional resources to Philadelphia’s underserved, low-income communities in support of PIDC’s mission of community investment.
PIDC Community Capital achieves its mission by: (1) financing high impact projects in disadvantaged communities that create quality jobs, eliminate blight, and provide new goods and services; (2) deploying capital and technical support services to small, growing businesses; and (3) repositioning and transitioning underutilized real estate assets for productive use. Through this multifaceted strategy, PIDC Community Capital invests capital and resources in support of business growth, community revitalization, and improved quality of life for Philadelphia and its most disadvantaged neighborhoods.
In 1997, PIDC established PIDC Community Capital (also known as PIDC-RDC). PIDC Community Capital is a 501(c)(3) nonprofit organization and is certified as a community development financial institution (“CDFI”) and a community development entity (“CDE”) by the Community Development Financial Institutions Fund (“CDFI Fund”).
PIDC Community Capital’s CDFI Target Market includes an Investment Area that comprises roughly 72% of Philadelphia’s census tracts and also includes a Targeted Population of African American-owned businesses. This means that PIDC Community Capital must direct 60% or more of its CDFI lending activity to a combination of Investment Areas and to African American-owned businesses located in Philadelphia.
PIDC is the sole member of PIDC Community Capital and manages all of its activities.
Salvatore J. Patti
Greater Philadelphia Chamber of Commerce
Independence Blue Cross
Spring Garden Lending Partners
In South Kensington, a $38 million mixed use project has transformed an abandoned factory into affordable living space for inner city teachers and an educational hub for non-profit organizations.