Community Action Program of North Alabama (CAPNA) recently renewed an $800,000 enterprise loan with NeighborWorks Capital. As a Community Action Program (CAP) agency, CAPNA provides a variety of services to the community. In addition to affordable housing and homeownership services, CAPNA also provides early childhood programs, Meals on Wheels, and programs for seniors in the community. The enterprise loan from NeighborWorks Capital supports CAPNA’s work in many ways. The funding increases the organization’s liquidity, making it easier for CAPNA to apply for tax credits. It covers the significant cost of LIHTC application fees and allows CAPNA to pursue more development opportunities. CAPNA is also able to use the loan to raise CDBG Home Funds to build single family homes in Montgomery, AL.
Learn more about NeighborWorks Capital’s competitively priced, fixed-rate loan capital that is available to members of the NeighborWorks network. Visit our lending solutions page for more information.