Weekly Real Estate News
Summary
Clearinghouse CDFI secured a $100 million allocation under the U.S. Treasury Bond Guarantee Program for community development lending.
Clearinghouse Community Development Financial Institution has secured a $100 million allocation through the U.S. Treasury’s CDFI Bond Guarantee Program, providing access to long-term financing for projects in underserved communities.
The Lake Forest, California-based lender announced the allocation October 15 and said it plans to deploy capital in low-income, rural and other underserved areas for community development, potentially including affordable housing.
The company’s announcement emphasizes that the program provides repayable financing, not grants. Bonds issued through the federal guarantee framework support loans to eligible community development financial institutions.
Housing and community development financing
Clearinghouse said it has originated $2.8 billion in loans for more than 2,770 community-focused projects since 1996, including work that created or preserved approximately 14,000 affordable homes. Those cumulative company figures are distinct from the new allocation.
The lender also reported that it repaid its first $100 million bond issued under the program in 2014. It said that financing supported 81 loans totaling $196 million and helped create or preserve 718 affordable homes.
The latest allocation is financing capacity, not evidence that $100 million has already been disbursed or that any specific proposed housing project has been approved. Future deployment will determine its direct housing impact.
