Who We Are
Founded in 2004, Texas Community Capital (TCC) is a non-profit lending intermediary providing loan products and development services to Texas CDCs, CDFIs and other community development organizations.
The mission of the Corporation is to provide specialized loan and investment products and services that promote economic and community development in underserved Texas Communities to enhance the quality of life of low-to-moderate income persons.
Operating as the Community Loan Center of Texas, we are proud to provide this affordable, risk-free alternative to payday and car title loans. All earnings are reinvested into the program for expansion and lending capital.
As network administrator of the Community Loan Center Affordable Small-Dollar Loan Program (CLC), TCC has fostered more than 26,000 transactions as alternatives for expensive payday and auto title loans through CLC Local Lenders.
These CLC affiliates have lent out over $17 million to Texans needing access to credit which has saved our borrowers more than $12 million, compared to traditional payday and auto title loans.
Texas Community Capital, operating as the Community Loan Center ("CLC") of Texas, is licensed and examined under the laws of the State of Texas and by state law is subject to regulatory oversight by the Office of Consumer Credit Commissioner.
Any consumer wishing to file a complaint against Texas Community Capital, or the Community Loan Center of Texas, should contact the Office of Consumer Credit Commissioner through one of the means indicated below:
The CLC local lender recruits employers in their community to offer the CLC loan program to their employees. The CLC program is offered at no cost to participating employers in their service territory. When an employee at a participating employer needs a loan, they go to the CLC website to apply.
An eligible employee can apply for a CLC loan online anytime. The CLC loan approval process is quick and easy since the entire loan application process is automated and credit underwriting is not required. After the employer verifies employment of the employee/borrower, the employee signs the CLC loan documents online. CLC loan proceeds (see diagram above) are transferred directly into the borrower’s bank account. CLC loan repayments begin on the employee’s next payday through payroll deduction. The CLC lender earns the interest from repayment of the CLC loans.
Community Loan Center loans feature:
no credit reports
affordable repayment options
no pre-payment penalties
CLC borrowers may access their account anytime through the CLC website. This innovative website eliminates the need for storefronts and high overhead costs resulting in much lower loan costs. The CLC program provides free, no obligation financial counseling to all CLC borrowers. The CLC financial counselors help borrowers become more financially empowered to manage their personal finances and to use credit responsibly.
The CLC model is customer centric and engages community lenders who understand the needs of consumer loan borrowers. The overarching goal is to help CLC borrowers meet current and ongoing financial obligations and achieve a sense of security in their financial future.
INVESTING IN THE COMMUNITY LOAN CENTER
The Community Loan Center is seeking grants, loans, and investments. The CLC program puts grant money from foundations and corporate donors to work year after year, re-loaning the grant funds up to 8 times every 5 years. The CLC program delivers measurable positive outcomes demonstrating how the CLC helps borrowers improve their financial health.
Reduced interest rate loans make it possible to bring needed relief to local economies by supporting the CLC. Foundations involved in impact investing can provide Program Related Investments and Mission Related Investments to CLC local lenders. Bank loans for CLC capital provide an excellent way to fulfill bank Community Reinvestment Act obligations.
Social investors may invest in the Community Loan Center directly. By accepting a modest rate of return on investments, private companies, religious institutions, nonprofit organizations or individuals can make a difference in their communities by supporting the Community Loan Center.
HOW TO BRING THE CLC TO YOUR COMMUNITY
The CLC loan program is designed to be a viable social enterprise for the Local Lenders. Texas Community Capital (TCC) is the network administrator authorized to recruit organizations to become Community Loan Center Local Lenders and market the program to employers in their assigned service territory.
Community Loan Center franchises are now available in many unserved markets in Texas. Each Local Lender receives access to the online software, use of trademarks, a logo, marketing materials, loan processing and loan servicing, technical assistance, and training.