Carver Federal Savings Bank Finances Affordable Housing Fund
Carver Federal Savings Bank will join Morgan Stanley and other investors to provide a line of credit to Community Housing Capital, Inc., a certified CDFI formed under the auspices of NeighborWorks America. Carver has provided $3 million in debt as part a $100 million syndicated financing lead by Morgan Stanley. Community Housing Capital provides early stage, interim development and permanent multifamily loans and construction loans to NeighborWorks Organizations nationwide. Its mission is “to promote affordable housing by providing access to flexible capital that is typically the missing piece in making affordable housing a reality in both urban and rural communities.”