CCRF Georgia
CDFI Coalition Revolving Fund
PROVIDING CAPITAL FOR
AFFORDABLE HOUSING
ACROSS GEORGIA
Macon, Georgia
The CDFI Coalition Revolving Fund (CCRF)
CCRF is a coalition of five CDFIs across the State of Georgia. These collaborating organizations are certified by the U.S. Department of Treasury’s CDFI Fund to provide financial services to low-income communities and to people who lack access to financing.
Columbus, Georgia
ABOUT
CCRF is comprised of the following CDFIs.
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The ANDP Loan Fund
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Enterprise Community Loan Fund
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NeighborWorks Columbus
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Reinvestment Fund
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Southwest Georgia United
In 2019, the Georgia Department of Community Affairs (DCA) granted CCRF $8 million in Tax Credit Assistance Payment (TCAP) fund. The first round of capital will be offered to support the acquisition, construction and/or rehabilitation of multi-family affordable housing across the state of Georgia. CCRF is currently providing financing for affordable housing developments that have received 4% or 9% Low-Income Housing Tax Credits.
COALITION MEMBERS
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The CCRF fund is powered by a grant from
PRODUCTS
Acquisition Loans
CCRF can offer up to $4M for the acquisition of real estate to be developed and operated as affordable housing. All CCRF loans carry interest rates of 1.5% and an origination fee of 1.5%. MORE
Construction/Bridge Loans
CCRF can offer up to $4M in capital for the new construction of real estate, inclusive of project-related soft costs. Construction loan funds may bridge investor pay-ins based on pre-determined advance ratios. MORE
PROJECT SPOTLIGHT
Ashbury Apartments
Valdosta, Georgia
Developers IDP Properties are developing a 76-unit LIHTC affordable housing community, Ashbury Apartments in Valdosta, Georgia. The Ashbury is located on a 2.8-acre site and will feature 1, 2 and 3 bedroom apartments for households earning 50% and 60% of area median income.
CCRF and its members are excited to provide $2M in construction financing to IDP Properties for this much needed affordable housing in South Georgia.