NeighborWorksCapital (NC) is a national non-profit community development loan fund based in Silver Spring, Maryland serving NeighborWorks America’s member organizations (NWOs) in all 50 states and the District of Columbia. NC is certified by the U.S. Department of the Treasury as a Community Development Financial Institution (CDFI) and is governed by a nine-member Board of Directors, a majority of whom are Executive Directors of NWOs along with others who have senior level expertise in community development, lending and non-profit operations.
In the 1990s NeighborWorks America (NW), combined with the advocacy of the network affiliates, shared a vision to sponsor and capitalize two loan funds. Beginning in 1994 RNA Community Builders, a loan fund serving rural NWOs was created, and was complimented in 2000 with the creation of Neighborhood Capital Corporation serving NWOs undertaking multifamily projects. In 2007 the network-lead boards of each loan fund agreed to consolidate to better serve the real estate development finance needs of the whole network. With a five-year investment commitment by NeighborWorks America the two loan funds combined their expertise, assets and customers in 2007 to provide a broader array of products to the entire network. We were re-branded NEIGHBORWORKS CAPITAL to reflect this broadened role. So while our name is relatively new our history of providing affordable loan products to the network is longstanding.
Our Focus
NeighborWorks Capital’s customers are NWOs in the real estate development line of business and aligns with NeighborWorks America’s strategic goals of production, preservation and provision of capital. Based on those goals NC has developed core and expanded loan products - from Predevelopment through Mini-Perm. NC’s products provide flexible and affordable capital to NeighborWorks members by financing pre-development costs, acquisition of land and buildings, construction, rehabilitation, and preservation of NWO-owned rental properties that undertake property improvements that include green and energy saving components. NC does not offer long-term permanent financing as this is typically available locally and nationally by financial institutions.
Distributed across all 50 states, the NeighborWorks® network includes a diverse array of nonprofit, mission-driven organizations engaged in real estate development, economic development, neighborhood revitalization, and community services in urban, suburban and rural communities across the United States.