NeighborWorks Capital funded a $2,000,000 revolving line of credit with CASA of Oregon in December. This loan will provide CASA with additional capital for their Manufactured Housing Park Preservation Loan. CASA provides financial and technical assistance to residents of manufactured housing parks (MHPs) and help organize resident cooperatives to take on park ownership. This assistance includes helping the co-op negotiate with the park owner, securing public financing from public and private sources, closing the financing, and setting up the cooperative management structure. This loan will allow CASA to stretch their own funds further in assisting MHPs.
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.