Affordable Housing & Community Loans

Building a Better Community for All

CommunityWorks provides affordable housing and community loans up to $750,000 to support affordable housing development, community facilities, and commercial revitalization to strengthen low-wealth communities.

Due to the lack of affordable financing for community developers, there is a deficit of affordable housing options for low-wealth families. CommunityWorks provides community developers and nonprofits access to financing that would otherwise be unavailable for low-wealth community-building projects.

Our Affordable Housing and Community Loan Options

Affordable Housing Loan

Provides loans of up to $750,000 to qualifying applicants. The goal of the Affordable Housing Loan is to increase affordable housing opportunities for low and moderate-income families, including rental, homeownership, and mixed-income and mixed-use projects.

Can be used:

To pay due diligence expenses, deposits, and other early phase costs (up to $300,000)
To pay purchase price and closing costs for property acquisition (up to $750,000)
To bridge the timing between project or programs costs and receipt of cash from committed sources (up to $750,000)
To pay hard and soft construction costs for new or renovation projects (up to $750,000)
To provide longer-term loans for projects requiring stabilization or interim financing (up to $750,000)
To provide capital for the rehabilitation of existing rental units to meet HUD standards for Section 8 Vouchers (up to $50,000)
To provide capital to tax credit developments that need local community financing (up to $750,000)

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Commercial Facilities

Provides loans up to $750,000 to qualifying applicants. The goal of the commercial facilities loan is to increase economic opportunities and job creation in underserved and underrepresented populations and communities.

Can be used:

To pay due diligence expenses, deposits, and other early phase costs (up to $300,000)
To pay purchase price and closing costs for property acquisition (up to $500,000)
To pay hard and soft construction costs for new or renovation projects (up to $750,000)
To provide longer-term loans for projects requiring stabilization or interim financing (up to $750,000)

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Community Loans

To support nonprofit and community-based organizations increase their financial capabilities to deliver their programs and projects in an effective and timely manner. Up to $250,000

Can be used:

As working capital for a non-profit organization who needs flexible capital to meet organizational cash flow or pay project-based expenses.

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For More Information or Assistance

Contact CommunityWorks Loan Officers by email or call (864) 235-6331.

EMAIL LOANINFO@CWCAROLINA.ORG Call (864) 235-6331