Neighborhood Impact Investment FundIn addition to direct lending for projects, NIIF is proud to invest in non-bank, mission-oriented lenders who serve market segments that the Fund is less well positioned to serve on its own, including loans for small businesses and small developers. These lending partners, in turn, commit to provide their lending products to support NIIF’s Eligible Neighborhoods.
Please contact our lending partners directly at the contact below for more information.
In January 2020, NIIF closed a $1 million commitment to Arctaris Impact Investors to establish the Arctaris Baltimore initiative. Arctaris, a national business-lending fund, provides larger loans of $1 to $5 million for small business expansion. NIIF’s loan supplemented a $4 million commitment from the Abell Foundation. The combined commitment supports a $25 million fund for investment in Baltimore City. For the NIIF funds to be fully drawn, Arctaris must invest at least $12.5 million in Eligible Neighborhoods.
In December 2019, NIIF closed a $2 million low-interest loan to Baltimore Community Lending (BCL). With a 30-year history of providing loan capital for development, BCL is an established CDFI and leader in mission lending in Baltimore. BCL has extensive construction finance experience and now offers unsecured small business loans. NIIF is pleased to support both areas of BCL’s work with additional capital for Eligible Neighborhoods.
The DASH Fund provides flexible and well-priced debt capital to small developers who acquire, renovate, and re-sell affordable single-family homes. The homes must be 1-4 unit, single family properties located in NIIF’s Eligible Neighborhoods. The Fund is led by the National Community Stabilization Trust, a national non-profit with a focus on neighborhood redevelopment, minority homeownership and neighborhood stabilization. With support from Baltimore City DHCD and NIIF, the Fund is committing $3 million to this pilot initiative.