NeighborGood Partners became certified as a CDFI by the U.S. Treasury in 2004 and since then, the Loan Fund has lent a total of $180.4 million in 294 loans for affordable housing, community facilities, and neighborhood revitalization. The fund averages about 20 loans a year, with its staff of five managing over $30 million in assets, which represents a 3000% growth in assets since 2004.
Community based CDFIs are vital sources of private capital to areas most in need of investment and jobs.
I am a real estate broker and development consultant working with emerging developers, small businesses and nonprofits. Many of my clients cannot finance their projects with traditional debt and equity because they don’t come from generational wealth and because their projects are more challenging because they are in markets that are not achieving their full potential yet or meeting critical community needs that don’t produce quite as much profit. CDFI lending has stepped in the gap to solve dozens of critical projects that just need a little boost to get to the finish line, and CDFIs are critical partners to Platform’s work.