Beginning in 2000, when NeighborWorks America invested in the creation of the loan fund, NeighborWorks Capital has enjoyed continuous and expanded support. As NC’s largest equity investor they have awarded almost $34 million in equity capital. This capital grant has provided financial strength to our balance sheet to raise other equity and debt capital from U.S.Treasury’s CDFI Fund and over ten financial institutions. Their equity is seen as credit enhancement to investors and leverages the strong production and preservation of affordable housing in the NeighborWorks network.
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.
