KeyBank’s Community Development Financial Institutions (CDFI) Lending and Investment Group has granted a $2 million loan to the C3 Impact Fund, a Chicago-based organization that provides financial resources and guidance to BIPOC and female real estate investors seeking to purchase and rehabilitate properties in low- and moderate-income areas.
According to Brian Maddox, National Team Leader for KeyBank’s CDFI Lending and Investment Group, “Homeownership is crucial for building strong communities. We are thrilled to offer this new credit facility in support of underserved developers who are revitalizing neighborhoods.”
The mission of the C3 Impact Fund is focused on creating stable communities. Since its establishment, it has allocated more than $50 million in loans while generating over 2,200 jobs within low- to moderate-income neighborhoods.
Tiffany Taylor, Executive Director of the C3 Fund stated that “KeyBank’s loan will allow us at the C3 Impact Fund to make strategic investments towards transforming distressed areas into thriving communities by providing local employment opportunities as well as addressing wealth disparities.”
