WASHINGTON, D.C. (September 28, 2017) –For the second time, small to mid-sized lenders, with total assets as low as $28 million, are participating in the U.S. Treasury Department’s CDFI Bond Guarantee Program, an innovative financing program that provides long-term, fixed rate loan capital to lenders serving underserved areas of the country.
OFN's $145 million bond issue involving eight lenders serving diverse needs, from rural and urban service markets, and provide capital for a variety of uses including charter schools, affordable housing, and senior living facilities. The issuance includes the most participants in a single issue, since the program’s inception in 2010.
OFN Executive Vice President Robin Odland said, "OFN is proud to have issued this large, multi-party bond for our Member CDFIs to catalyze critical economic development in underserved areas throughout our country. This bond is a testament to the hard work of our Member CDFIs and to the CDFI Fund's commitment to making this program work for more and different types of CDFIs."
The participants in OFN's multi‐party bond include:
- Building Hope
- Coastal Enterprises, Inc.
- Community First Fund
- Florida Community Loan Fund
- Greater Minnesota Housing Fund.
- Homewise, Inc.,
- Housing Trust Silicon Valley
- Impact Seven
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