PCG’s $600,000 loan is the first loan funded under a new GAP loan program. The program was partially funded with a CDFI grant with a purpose of enabling partnerships with CDFI banks who face more stringent regulatory requirements, particularly loan to value constraints.
Community Housing Works is a non-profit housing developer whose mission is to strengthen neighborhoods and help families become financially independent. A loan from PCG enabled them to purchase and renovate the affordable Azusa Apartments located in Azusa, CA, a suburb of Los Angeles.
The Community Builders, located in Boston, MA, is the largest non-profit affordable housing developer in the United States. A loan from PCG will help TCB acquire and renovate 5 adaptive-reuse multi-family housing properties that provide 229 affordable housing units in South-Central Pennsylvania Read More