CDFI Coalition Revolving Fund
PROVIDING CAPITAL FOR
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.
CCRF is comprised of the following CDFIs.
The ANDP Loan Fund
Enterprise Community Loan Fund
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.
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
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
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.