Emergency Recovery and Rebuilding Loans

Share This Post

In response to the substantial impacts from hurricanes, floods, fires and other disasters over the past year NeighborWorks Capital, in partnership with Enterprise Community Loan Fund and Mercy Loan Fund, have committed $15 million in Funding For Rapid Recovery and Rebuilding. Eligible uses for the financing includes affordable housing and community facilities in need of immediate repair, as well as costs associated with the planning of rehabilitation and new development. Organizations will benefit from unsecured loans up to $500,000 to meet organizational needs without the requirement of collateral with a quick turnaround.

Organizations will benefit from:

  • Unsecured loans up to $500,000, to meet organizational needs without the requirement of collateral
  • Quick turnaround, with approval in approximately half the normal time
  • Capital to bridge insurance and/or FEMA proceeds

More details on the product is available from the Funding for Rapid Recovery Rebuilding term sheet.

As a national CDFI, NeighborWorks Capital has prior experience in supporting recovery efforts across the country. In response, the Board of Directors made a commitment of $6 million to this current effort and will assess the demand going forward. We look forward to working with our sister CDFIs in this effort. To apply for financing please contact Stephen Peelor at speelor@neighborworkscapital.org.

Subscribe To Our Newsletter

Stay up to date with NeighborWorks Capital

More To Explore

Chief of Consulting

The Chief of Consulting (CC) is a member of the senior management team and has overall responsibility for the startup and buildout of a consulting business focused on the affordable housing and community development industry. The CC will need to be an entrepreneur at heart but also be able to work as part of a team. The CC is a critical strategic partner for the Chief Executive Officer (CEO) and will report directly to the CEO.

Read More »