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Self-Help Ventures Fund
301 W. Main St.Durham NC, 27701-3227
CDFI Awards for Self-Help Ventures Fund
NMTC (2008) - $50,000,000
Self-Help Ventures Fund (SHVF) will use its allocation of NMTCs to expand its commercial real estate and community facilities financing and its geographic reach. SHVF provides senior debt through loans to eligible real estate projects, small businesses, and community facility operators. The NMTC allocation will enable SHVF to continue offering favorable loan rates and terms to projects in distressed communities, including a 250 basis point reduction on NMTC loans, and enable it to finance much larger commercial real estate projects, including retail centers, office buildings and mixed use projects; as well as charter schools and other community facilities.
FA (2008) - $1,000,000
Self-Help Ventures Fund is a nonprofit loan fund in operation since 1980. Self-Help Ventures Fund is a certified CDFI that provides secondary market home financing as well as commercial loans to businesses and nonprofits. It will use a 2008 Financial Assistance award of $1,000,000 to serve low-income borrowers both in North Carolina and nationwide.
NMTC (2005) - $95,000,000
With its allocation, Self-Help Ventures Fund (SHVF) will continue to expand its geographic lending territory and offer loan products that provide better terms and conditions, such as loans at interest rates up to 2% lower than SHVF"s regular, risk adjusted loan rates. SHVF will also provide more flexible terms than is available in the market, including longer amortization periods of up to 20 years, lower debt coverage ratios, lower origination fees, more flexible credit standards, acceptance of non-standard forms of collateral, and loan to value ratios as high at 100%.
FA (2004) - $2,000,000
Self-Help Ventures Fund will use the award as a risk reserve for Self-Help"s secondary market program, which entails purchasing packages of nonconforming mortgage loans, and in return banks commit to re-lend the money to an equivalent number of lower-income home buyers.
NMTC (2002) - $75,000,000
Self-Help intends to use its NMTC allocation to originate loans for businesses, community facilities (including daycare and charter school facilities) and commercial real estate projects, and to purchase such loans from other CDES to help ensure liquidity in these markets. Self-Help intends to use the NMTC allocation to significantly increase the volume of its activities, and to expand the types of products it offers a€“ including a product to finance large commercial real estate projects that will serve as anchors for stimulating significant economic activity.
CORE (2000) - $3,000,000
The CDFI Fund"s $3,000,000 capital grant will help Self-Help carry out its business plan that calls for targeting loans to three largely unserved markets: Latino small business owners in North Carolina; the rural sections of the eastern part of the State that were devastated by the floods of 1999; and charter schools, child care centers, and other community facilities.
CORE (1998) - $2,000,000
The $2,000,000 grant from the CDFI Fund will enable Self-Help to expand its community investment activities.
CORE (1996) - $3,000,000
The CDFI Fund"s $3 million grant will be channeled to Self-Help Ventures Fund, and will boost its equity capital and assist in elevating its development innovations to an even higher scale. Expansion of Self Help"s secondary market initiative is worthy of special note. Beginning with a partnership with Wachovia Bank, and since with other banks, Self-Help has pioneered a means to create continual flow of capital to provide mortgages for low-income homebuyers.
Other Community Development Financial Institutions in North Carolina
CAHEC New Markets, LLC
Raleigh
Chatham-Lee Credit Union
Pittsboro
College Heights Credit Union
Fayetteville
Lumbee Tribe of North Carolina
Pembroke
MAY Coalition, Inc.
Spruce Pine
Metropolitan Community Credit Union
Washington
School Workers Federal Credit Union
CHARLOTTE
Self-Help Credit Union
Durham
Self-Help Ventures Fund
Durham
South East Community Credit Union
Wilmington
Tri County Credit Union
Ahoskie
Victory- Masonic Mutual Credit Union
Winston-Salem
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