NeighborWorks Capital recently closed a $500,000 construction line of credit with Total Concept to help ramp up their single-family acquisition/rehab line of business. Working in rural Bent, Crowley, and Otero Counties, Colorado, Total Concept expects to acquire, rehab and sell at least one home per month over the next three years. They’ll serve homebuyers between 80% and 120% AMI and revitalize the aging housing stock of this agricultural area east of Pueblo and Colorado Springs.
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.
