Way Finders closed on a $3,000,000 enterprise loan that will help capitalize the organization’s internal fund to support predevelopment and acquisition activities for affordable housing development in central and western Massachusetts. With six projects already in their pipeline, Way Finders will use the funding for design and engineering work, preparatory site work, environmental assessments, and the purchase of land for existing and future projects.
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.
