CDFI Lending - Special Programs
Partnerships Increase Opportunities
Cinnaire Lending works at the intersection of purpose and opportunity — Our financing products deliver capital and commitment to support people and projects in underinvested communities. In addition to our range of loan products, we partner with financial and social funding sources to create lending initiatives that generate equitable and inclusive economic opportunity. Through these special programs we support a wide range of high impact projects across our footprint.
Federal Home Loan Bank of Chicago Affordable Housing Program
Cinnaire is a member of the Federal Home Loan Bank of Chicago, or FHLBC, giving our clients access to its full suite of products. An important product for rental properties is the Affordable Housing Program, or AHP, which awards grant subsidies through a competitive process on a per-project maximum to the lesser of $2M, or 75% of a project cost. These valuable grants, which do not have to be paid back, provide gap funding for affordable rental properties and dovetail well with LIHTC funding.
Capital Magnet Fund
Cinnaire Lending is certified by the US Department of Treasury as a CDFI. Since 2011, Cinnaire has been awarded more than $35.4 million through the CDFI Fund Capital Magnet Fund (CMF) program. The Capital Magnet Fund is a competitive grant program developed to support the creation and preservation of affordable housing in disinvested communities. Cinnaire amplifies these public grant dollars with private investments to finance supportive housing and community development projects across our footprint.
Preserve Affordability Pittsburgh Loan Pool (PAP)
Preserve Affordability Pittsburgh Loan Pool (PAP) is actively seeking opportunities with mission-minded developers acquiring multi-family affordable housing projects with 20 or more units. PAP seeks out projects that have a strong impact on low-or-moderate income communities that are experiencing displacement because of astronomically rising rents. We preserve projects that benefit the community through increased affordability, community revitalization and enhanced economic activity.
Catalyst Fund
The Catalyst Fund is a partnership between Cinnaire and the Delaware State Housing Authority designed to address vacant property in communities in Delaware. Both for-profit and nonprofit developers can apply for construction financing and subsidy needed to renovate vacant homes or build new homes on vacant land for affordable homeownership. Administered by Cinnaire, the Catalyst Fund will make up the gap between the cost of acquisition and renovation that too often stands in the way of equitable community revitalization in Delaware’s neighborhoods.
Our Locations
Home Office - Lansing
1118 South Washington
Lansing MI, 48910
Indianapolis
320 North Meridian, Suite 516
Indianapolis IN, 46204
Wilmington
100 W. 10th Street, Suite 502
Wilmington, DE 19801
Chicago
225 West Washington, Suite 1350
Chicago, IL 60606
Madison
10 E. Doty Street, Suite 617
Madison, WI 53703
Grand Rapids
100 Cesar E. Chavez Ave., Suite 202
Grand Rapids, MI 49503
Detroit
2111 Woodward Avenue, Suite 600
Detroit, MI 48201
Milwaukee
231 E. Buffalo Street, Suite 302
Milwaukee, WI 53202
