NFF Receives $30 Million Bond Guarantee to Support Long-Term Community Development Investments

NFF has received $30 million via Opportunity Finance Network and the CDFI Fund’s Bond Guarantee Program (BGP), allowing for support of community development projects that require long-term capital. The Bond Guarantee Program has made nearly $3 billion in bonds available to CDFIs from the Federal Financing Bank. NFF was one of several CDFIs that received funding through Opportunity Finance Network’s recent allocation.  

The bonds have a long term (29.5 years) and rates that are fixed at the time of draw-down, which will allow NFF to make longer-term loans to nonprofits. Long-term, lower-cost capital offers additional stability and predictability for NFF and its borrowers. 

“We look forward to bringing this capital into the market for nonprofits that are pillars of social and economic well-being in their communities and who deserve access to a full range of financial products,” said David Streim, NFF’s Vice President of Financing. “We are excited to be in partnership with Opportunity Finance Network and the CDFI Fund as we put this money to work.”  

Community Development Financial Institutions (CDFIs) are economic engines that help nonprofits and small businesses create jobs, provide critical services, and revitalize neighborhoods. Since its founding in 1980, NFF has provided more than $1.2 billion in financing and access to capital in support of more than $4.1 billion in projects for thousands of organizations nationwide. NFF manages a loan portfolio or more than 265 borrowers that are on track to serve 4,323,073 individuals and families through their programs and to create or preserve 3,726 jobs.