Continental Who's Who

Stacey Parks

Stacey Parks Townsend is recognized by Continental Who’s Who as a Pinnacle Professional in the field of Financial Services as a result of her role as President of Property and Casualty Initiative, LLC, a Massachusetts focused, $85 million dollar community loan fund.

In 1999, Stacey was recruited by a consortium of property and casualty insurance companies to create a fund that would provide loans to projects that promote economic development and improve the health and welfare of low income Massachusetts residents. Since 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. PCI focuses its efforts on the areas of greatest need and employs the resources to create innovative financial solutions.

PCI specialize in filling financial gaps and providing the funding that is not available from traditional lending sources. In its first fifteen years PCI provided loans totaling $242 million to 128 affordable housing developers and small business that created or maintained 3200 units of affordable housing and more than 2000 jobs. Stacey joined the Initiative after four years at NE Business Development Corporation, where she created and managed a subsidiary that specialized in loans to minority and women- owned businesses, community development groups and not-for-profit organizations Stacey spent the first sixteen years of her career working in various lending and management positions at the Bank of New England, BayBank and BankBoston. She is a graduate of Wellesley College and a native Bostonian. For more information, please visit www.pcifund.com