KEYBANK PROVIDES $10 MILLION LINE OF CREDIT TO CINNAIRE LENDING FOR COMMUNITY DEVELOPMENT
- Cinnaire Lending receives $10 million loan from KeyBank, strengthening its lending pool for affordable housing and community development projects
- None.
As a certified CDFI, Cinnaire Lending is a trusted partner with nonprofit organizations, government agencies, and mission-driven for-profit businesses to connect communities, regardless of income or zip code, with financing that supports economic growth and opportunity.
"Racial and economic equity are core to Cinnaire's mission," said Brian Maddox, National Team Leader for KeyBank Community Development Financial Institutions group. "KeyBank and Cinnaire share a common commitment to increasing access to capital and bringing greater equity for marginalized communities."
"Through our loan fund, we're committed to leveling the playing field for disinvested communities," said Sarah Greenberg, President, Cinnaire Lending. "These funds serve as a catalyst, providing lower-cost, flexible financing to create a bridge, empowering borrowers to embark on projects that build on the assets already present in their communities."
About Cinnaire
Cinnaire is a non-profit financial partner that supports affordable housing developments along with community and economic revitalization initiatives through creative investments, loans, and real estate development services. Since 1993, Cinnaire has invested
About KeyBank Community Development Lending and Investment
KeyBank Community Development Lending and Investment (CDLI) finances projects that stabilize and revitalize communities across all 50 states. As one of the top affordable housing capital providers in the country, KeyBank's platform brings together construction, acquisition, bridge-to-re-syndication, and preservation loans, as well as lines of credit, Agency and HUD permanent mortgage executions, and equity investments for low-income housing projects, especially Low-Income Housing Tax Credit (LIHTC) financing. KeyBank has earned 10 consecutive "Outstanding" ratings on the Community Reinvestment Act exam, from the Office of the Comptroller of the Currency, making it the first
About KeyCorp
KeyCorp's (NYSE: KEY) roots trace back nearly 200 years to
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SOURCE KeyCorp