The Housing Partnership Network was one of 59 Community Development Financial Institutions (CDFIs) to receive significant funding through the U.S. Treasury’s CDFI Fund. Announced in June, the $2 million award will support and complement the Network’s work with member organizations that are engaged in neighborhood stabilization efforts.

A total of $90 million in financial assistance awards were announced. The Housing Partnership Network’s award will provide project financing and working capital to several regional non-profit member housing organizations.

The grant will be utilized principally to provide core net worth to the Housing Partnership Fund, leveraging a significant additional volume of lending capital. In addition, the Network will utilize the REO Capital Fund recently established by the National Community Stabilization Trust (NCST) to provide additional lending capital to these neighborhood stabilization efforts.

Since the award was announced, The Housing Partnership Network has closed a loan to ANDP (Atlanta Neighborhood Development Partnership, Inc.) for $1 million, committed $2 million to the Housing Development Fund, and is actively considering other financing requests. CDFI funding provides critical pieces of financing to projects in economically distressed urban and rural communities.