CDFI Fund Announces $300 Million in Financing Under CDFI Bond Guarantee Program
The Community Development Financial Institutions (CDFI) Fund today announced three $100 million guarantees under the CDFI Bond Guarantee program to provide long-term, low-cost, fixed-rate capital for projects in low-income and distressed rural, urban and Native communities. Community Reinvestment Fund will issue a $100 million bond on behalf of Lendistry, Bank of America CDFI Funding Corporation will issue a $100 million bond on behalf of Self-Help Ventures and another $100 million bond on behalf of California Community Reinvestment Corporation. The CDFI Bond Guarantee program is designed to enable CDFIs to execute appropriately scaled projects, including the development of commercial real estate, affordable rental housing units, charter schools, day care centers and health care centers. It also allows CDFIs to provide capital for small businesses and nonprofits.
Novogradac’s CDFI team provides accounting and consulting experience, as well as experience as market analysts, appraisers and more to CDFIs.