2023 Annual Report
This year was impactful for our organization, marked by significant achievements and the launch of new initiatives. We invite you to read about our work and join us in celebrating a successful year.
NeighborWorks Capital’s mission is to support the high-impact community development projects and growth opportunities of every member of the NeighborWorks America network. We do that by providing flexible, responsive, and affordable financing solutions for all types and stages of residential and commercial real estate development AND business expansion; capital for specific projects AND for the whole enterprise.
To serve the breadth of NeighborWorks affiliates well, we have an experienced team of lenders and portfolio managers ready to respond to your project challenges, from the earliest planning for new development to long-term financing for the preservation of affordable homes to capital to support a new business opportunity. Our flexibility comes from our long-term experience lending to the NeighborWorks network, the creativity of our team, Board members and staff, and from the capital we use to make our loans. Our financing solutions don’t have to fit tightly into narrow boxes; we want to craft a solution that fits you and your needs.
We put the same energy and effort into every loan request – no matter the size of the project or loan amount. Our flexible capital sources allow us to offer loans from $250,000 up to $10 million (depending on the purpose, of course), with fixed or floating interest rates with terms from 12 months to 18 years.
The NeighborWorks Capital lending team works with each borrower to provide custom terms to suit the needs of your project. As a CDFI, NeighborWorks Capital typically can offer higher loan-to-value and lower debt coverage ratios than many lenders of affordable housing, and we can make loans that other lenders simply cannot, like unsecured term loans for predevelopment costs up to $500,000, or subordinate financing to fill financing gaps in large multifamily acquisitions! Check out our financing solutions!
Competitively priced, fixed-rate loan capital with flexible terms.
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This year was impactful for our organization, marked by significant achievements and the launch of new initiatives. We invite you to read about our work and join us in celebrating a successful year.
NeighborWorks Capital is pleased to extend a $673,000 construction-to-permanent loan to Lakes Region Community Developers for Bay Street Apartments.
We are pleased to announce that Laura Altomare has joined the NeighborWorks Capital leadership team as the organization’s first Chief Growth Officer. Laura has over 25 years of experience in the financial services sector, including nonprofit Community Development Financial Institution (CDFI) leadership and for-profit banking, investment management, and mortgage lending.
NeighborWorks Capital Green Advisory Board: Industry Leaders Come Together to Ensure Greenhouse Gas Reduction Funds (GGRF) Reach Underinvested Communities
NeighborWorks Capital seeks a Director, Green Initiatives (Director) to build, implement, and manage the organization’s greenhouse gas reduction program. NeighborWorks Capital is a member of Climate United, a broad coalition organized to deploy federal investment from the Environmental Protection Agency (EPA)’s Greenhouse Gas Reduction Fund (GGRF) to support the equitable adoption of green technologies in communities across America, with an emphasis on serving low-income and disadvantaged communities (LIDACs).
NeighborWorks Capital is pleased to extend a $6,000,000 acquisition loan in participation with NewWest Community Capital to Nevada Hand. The funds will be used to acquire 6.5 acres of land in Las Vegas, NV where Nevada Hand will construct Serene Pines, a 282-unit affordable housing development for seniors.
Loans@neighborworkscapital.org
Tel: (240) 821-1651
8484 Georgia Ave. Ste 330
Silver Spring, MD 20910
Hours: Mon-Fri 8am-6pm
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