NeighborWorks Capital funded a $494,000 permanent loan with Mutual Housing Association of Greater Hartford Incorporated (MHA-GH) in December 2020. This loan will finance the acquisition of the Allen Street property in New Britain, Connecticut. The property has a HAP contract which was renewed for 20 years with the closing and will cover all ten apartments. Allen Street was developed in 1992 with a HUD section 202 Direct loan for seniors over 62 years of age and disabled persons.
NeighborWorks Capital has joined the Federal Home Loan Bank of Atlanta, a cooperative of eligible commercial banks, credit unions, savings institutions, community development financial institutions, and insurance companies that offers competitively-priced financing, as well as affordable housing and community development grants.