About NeighborWorks Capital
NeighborWorks Capital: Delivering Flexible Capital to Strengthen Communities
NeighborWorks Capital is a non-profit organization that provides flexible capital to NeighborWorks America affiliates. The organization was founded in 2002 with the aim of providing affordable homes and strengthening communities across the United States. Since then, NeighborWorks Capital has become a leading provider of capital for affordable housing and community development projects.
The organization's mission is to provide financing solutions that enable its partners to create and preserve affordable housing, revitalize neighborhoods, and promote economic opportunity. NeighborWorks Capital offers a range of financial products and services designed to meet the unique needs of its partners.
One of the key features of NeighborWorks Capital's financing solutions is their flexibility. The organization understands that each project has unique requirements, so it tailors its financing packages accordingly. This approach allows its partners to access the capital they need while minimizing risk.
NeighborWorks Capital also provides technical assistance and capacity building support to help its partners succeed in their projects. Its team includes experienced professionals who are dedicated to helping organizations achieve their goals.
The organization's impact on communities across the country is significant. Since its inception, it has provided over $500 million in loans for more than 300 projects in 40 states and Washington D.C., creating or preserving over 15,000 units of affordable housing.
One example of NeighborWorks Capital's impact can be seen in New Orleans' Central City neighborhood. In partnership with Providence Community Housing, NeighborWorks provided $5 million in financing for the redevelopment of an abandoned school into mixed-income apartments for families earning between 30% and 80% area median income (AMI). The project created 39 new units of affordable housing while preserving historic architecture.
Another example can be found in San Francisco's Mission District where Mission Economic Development Agency (MEDA) partnered with Neighborworks on two separate occasions - once for acquisition/rehabilitation loan at below-market interest rates which helped MEDA acquire four buildings containing a total number of twenty-six residential units; secondly MEDA received predevelopment loan from NWC which helped them acquire land at below-market interest rates which will eventually lead them towards developing more than hundred new homes along with commercial spaces as well as community facilities like child care center etc..
In addition to providing flexible capital solutions, Neighborworks also works towards promoting racial equity by ensuring equitable distribution among all races through various initiatives like "Equity Action Plan" which aims at identifying areas where there are disparities based on race/ethnicity/gender etc..and then taking necessary steps towards addressing those disparities through policy changes or other means.
Overall, Neighborhoods Works Capitals' commitment towards delivering flexible capital needed by Neighborhoods America affiliates has made it one-of-a-kind non-profit organisation working tirelessly towards strengthening communities across United States by providing access-to-capital alongwith technical assistance & capacity building support thereby making sure that every individual/family gets an opportunity live comfortably within their means without having worry about affordability issues related shelter/housing costs!
neighborworkscapital.org
