Chicago, IL, and Lansing, MI—June 1, 2017: The Federal Home Loan Bank of Chicago (FHLBC) today announced that Cinnaire, a full-service CDFI and member of the FHLBC, was named a Community First® Fund (CFF) partner and is the recipient of a $3 million, 10-year loan. The CFF is a $50 million revolving loan fund that provides direct support to non-depository CDFIs, community development loan funds, and state housing finance agencies serving Illinois and Wisconsin.
“Cinnaire provides vital financial resources to promote the health of communities and economies across our district,” said Suzi Thackston, Community Investment Officer, FHLBC. “As a member of the FHLBC, they have used our competitive Affordable Housing Program to support the development of hundreds of units of rental housing in Illinois and Wisconsin. This Community First Fund loan is an opportunity to expand our Cinnaire partnership and yield even greater benefits for our communities.”
Read the press release here.