LETTER FROM THE PRESIDENT
In 1999, thirteen property and casualty insurance companies and their subsidiaries came together to form the Property and Casualty Initiative, with little more than a basic concept of what we hoped to create and how we could positively impact the Massachusetts economy.
Since inception, we have learned a great deal about the varying needs of the organizations and companies operating in our market. With extensive commercial lending and affordable housing development experience, PCI's staff understands the complex issues that face borrowers as they attempt to develop their business, reinvigorate a town center, or create affordable housing. We take into account the special circumstances of each loan and offer tailored financial solutions that meet the needs of the borrower and their primary lender.
The challenge to meet our mandate and achieve our goals continues to inspire the PCI staff and member companies. We look forward to strengthening our relationships with funding partners and will continue to leverage all available funds to achieve the greatest benefit for Massachusetts' communities and residents.
PCI is proud of its accomplishment of committing over $200 million in loans to projects and companies which have maintained or created over 2,000 units of affordable housing and approximately 2,000 jobs. Within this site you will find examples of these loans grouped according to our four target markets; 1) Affordable Housing, 2) Small Businesses, 3) Economic Development, and 4) Community Services. We hope the information and examples will encourage you to contact one of our staff to discuss how we might help you achieve your financial goals.