For the 20th year, NeighborWorks America is investing in our growth to support the financing needs of the NeighborWorks network. The NeighborWorks board and officers have approved a $2.4 million capital grant which we will leverage with $15 million in additional capital. Their continued equity investment has leveraged over $110 million in capital to date and will attract more investments to our CDFI to meet our five-year goal of doubling our lending capital. The board and staff of NeighborWorks Capital appreciate the continued partnership.
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.