NeighborWorks Capital (NC) is pleased to be selected once again to receive a grant award from the U.S. Treasury’s CDFI Fund. This year NC was awarded $826,905 from their Financial Assistance program. Our primary request for these funds is to expand and leverage capital to provide mezzanine financing to our customers. NC has received over $7 million in capital grants and matching funds used as flexible lending capital to meet pressing housing needs in communities of persistent poverty.
NeighborWorks Capital Deploys $22 Million to Fund Permanent Multifamily Loans in Partnership with Charles Schwab Bank
On August 30, 2022, NeighborWorks Capital received its largest investment to date, a $25 million facility from Charles Schwab Bank to fund permanent multifamily loans. One year later, NeighborWorks Capital is pleased to report that 90% of the facility has been utilized and $22 million of long-term, fixed-rate permanent financing has been deployed to members of the NeighborWorks network.