NEW YORK (March 30, 2022) – Today, Enterprise Community Partners (Enterprise) announced that Elise Balboni will serve as the new president of its community development financial institution (CDFI), Enterprise Community Loan Fund (ECLF), one of the largest nonprofit CDFIs in the country. Balboni previously served as ECLF’s interim president and senior vice president of strategic initiatives and capital programs.
“Elise combines her expertise in a wide range of capital products with a deep commitment to both the communities we serve and the partners who make our work possible,” said Lori Chatman, president of Enterprise’s Capital division and Balboni’s predecessor as president of ECLF. “We are fortunate to have a passionate and talented leader like Elise at the helm as we continue to grow our impact nationwide.”
As president of ECLF, Balboni will steward nearly $450 million in assets and oversee the organization’s distribution of high-impact capital to communities across the country. Her focus areas include lending to developers to finance affordable housing, New Markets Tax Credit investments and filling gaps in capital funding created by decades of systemic racism in housing through Enterprise’s Equitable Path Forward initiative.
“Investment capital is a powerful tool to support communities and businesses across the country, particularly when it is targeted in areas that have experienced disinvestment and discrimination,” said Balboni. “Right now, Enterprise’s work is more critical than ever. I am deeply honored to step into this role and look forward to working with my colleagues, our many partners and the communities we serve to make an impact.”
After joining Enterprise in 2021, Balboni helped lead ECLF to an all-time high in assets under management and was instrumental in standing up an off-balance sheet vehicle to provide unsecured working capital and predevelopment financing to developers of color as part of Equitable Path Forward. Previously, Balboni was managing director for lending at the Local Initiatives Support Corporation (LISC), where she oversaw loan origination and asset management functions. Earlier in her career as LISC’s vice president of education programs, she oversaw the charter school financing unit.
Balboni serves as a board member for BES, an educational leadership development nonprofit, and is a member of the investment committee for Habitat Mortgage Solutions, the CDFI of Habitat for Humanity International. She received her B.A. from Harvard University and her M.B.A. from the Stanford Graduate School of Business.