NFF to Invest $899,000 CDFI Fund Award in Housing, Health, Education, and Human Services
NFF has been awarded $899,000 by the US Department of the Treasury’s Community Development Financial Institutions (CDFI) Fund.
NFF will invest its award in pre-construction capital for supportive housing developers primarily in Los Angeles ($650,000), loans to education, health, and human services organizations in Brooklyn, the Bronx, and Philadelphia ($149,000), and financing for nonprofits that serve people with disabilities ($100,000).
Read more about how NFF uses capital to support nonprofits working to expand opportunities in their communities.
“We’re thrilled to have received this latest award from the CDFI Fund,” said Norah McVeigh, NFF Managing Director, Financing. “We will be using this capital to lend to more nonprofits working in some of the most under-resourced communities that have historically lacked access to affordable financing for their community priorities.”
The FY2019 CDFI Program Awards announced on Nov. 19 designated $188.7 million to 284 CDFIs to increase their lending and investment activity in low-income and economically distressed communities across the country. The awardees are based in 45 states, the District of Columbia, and Puerto Rico.
Learn more about the CDFI Fund.