1999, as the result of state legislation, thirteen Massachusetts-based
property and casualty insurance companies established the Property and
Casualty Initiative, LLC (PCI) as a state wide community loan fund.
PCI's express purpose is to promote economic development by providing
loans that improve the health and welfare of low income residents and
communities across the Commonwealth. The participating insurance
companies have contributed $85 million to capitalize PCI and play an
active role in setting the direction for PCI's lending activities.
inception, PCI's mission has been to increase or maintain the
availability of affordable rental housing, promote development in
economic target areas, and create employment opportunities and access
to healthcare and social services for low and moderate-income
Massachusetts residents. Whether through direct loans to small
businesses or development projects or investments in regional loan or
equity funds, our goal is to focus our efforts on the areas of greatest
need and employ our resources to create innovative financial solutions.
complimenting the financing available from traditional sources PCI has
successfully increased the amount of capital available to support the
underserved markets across the Commonwealth.