Initiative Capital, the Initiative’s lending arm, is a certified Community Development Financial Institution (CDFI) that provides strategic lending and investment for community economic developers and businesses that create jobs, promote economic growth and facilitate the development of affordable housing and community revitalization, particularly in low-resource areas of the state.
Initiative Capital offers two portfolios of loan products:
1) Disaster Relief Funding – for developers, rental property owners, and small business owners.
2) Affordable housing, community development and enterprise funding loan products
Collectively, the Initiative and Initiative Capital have invested more than $73 million in community-based developments that create economic opportunity in the state’s most distressed communities.
More than half of the borrowers of Initiative Capital are African American entrepreneurs or African American-led organizations, and many of them are located in or serve rural communities.
In 2015, the Initiative and Initiative Capital joined in a strategic alliance with the NC Housing Coalition. These three statewide organizations now work collectively to lead the work of the CED sector in North Carolina through a combination of capacity building, policy advocacy, and enterprise financing. In addition to providing a new model for accelerating community change across NC, this collaborative promotes long-term sustainability by creating significant operating efficiencies. Since 2015, the expanded resources and networks created by this partnership have presented a number of unique opportunities for community investment for Initiative Capital.