AAFE helps homeowners and entrepreneurs access the capital they need to improve their lives.
AAFE has always been committed to helping people, both recently arrived immigrants and longtime citizens, fulfill their aspirations. Through its two flagship affiliates, the organization bolsters homeownership and small business development in New York’s immigrant communities.
The Community Development Fund (CDF) provides a wide range of services and support to families seeking to own their own homes. It has facilitated $300 million in mortgage financing for more than 2,000 home buyers. AAFE CDF is the first home ownership center serving the Asian American community in New York City. It offers comprehensive counseling and educational programs for first-time buyers.
Renaissance Economic Development Corp. provides direct financial assistance and counseling services to entrepreneurs throughout New York City. The organization is focused on assisting immigrant and women-owned businesses succeed. Renaissance is a certified Community Development Financial Institution (CDFI) under the U.S. Department of Treasury and a Small Business Administration (SBA) microlender. The organization targets diverse communities in which the barriers of language, culture, and conventional loan underwriting have stymied the growth of small business. Since its creation in 1997 Renaissance has supplied $36 million in affordable loans to hundreds of businesses. It offers technical assistance courses on subjects such as trademarks, franchise opportunities and networking.