Sponsor Highlight, January 2020: 2019 Was NeighborWorks Capital's Biggest Year Ever!
NeighborWorks Capital (“NC”) is a national non-profit community development loan fund based in Silver Spring, Maryland serving NeighborWorks America’s member organizations (“NWOs”) in all 50 states and the District of Columbia. NC is certified by the U.S. Department of the Treasury as a Community Development Financial Institution (“CDFI”) and rated ***AA- by Aeris-Insight™. NeighborWorks Capital has over $100 million in equity, debt, and lines of credit. NC is governed by an 11 member Board of Directors, the majority of whom are Executive Directors of NWOs along with external directors with senior level expertise in community development, lending and non-profit operations.
NeighborWorks Capital’s customers are the approximately 130 NWOs in the real estate development line of business. On an annual basis they produce or preserve over 9,000+ units of rental and for-sale homes and own and manage 150,000+ units of affordable multifamily housing. NC’s products provide flexible and affordable capital to NWOs including term loans and lines of credit for pre-development costs, acquisition of land and buildings, construction, bridge, rehabilitation, and preservation of NWO-owned rental properties that undertake property improvements.
Over the past 16 years serving the NeighborWorks Network NC has achieved the following impacts:
- 116 NWO customers
- 350 loans for affordable rental and for-sale homes
- 41 States and District of Columbia
- $250 million in loans, leveraging $3 billion in permanent financing
- 16,000 units of affordable rental and for-sale housing created or preserved
- 82% rental, 12% for-sale, 6% commercial
- 92% of housing affordable below 80% AMI
