CDFI Fund Guarantees $265 Million in Bonds for Low-Income Community Development

Wednesday, September 28, 2016 - 11:00AM

The Community Development Financial Institutions (CDFI) Fund today announced that two bonds totaling $265 million were issued on behalf of four CDFIs in fiscal year 2016 through the CDFI Bond Guarantee program. The program makes long-term, fixed-rate capital available for developments in low-income urban, rural and native communities. In fiscal year 2016, Community Reinvestment Fund USA issued a $165 million bond on behalf of Capital Impact Partners, Low Income Investment Fund and the Reinvestment Fund. Bank of America issued a $100 million bond on behalf of Self-Help Ventures Fund. The bond loans will be used to finance properties in low-income communities, such as senior living and long-term care facilities, daycare centers, commercial real estate, rental housing, small businesses and charter schools. 

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