Fahe has been awarded $20 Million through the CDFI Bond Guarantee Program. We are proud to be one of three organizations across the country to receive a share of this award which totals $100 Million. The CDFI Bond Guarantee Program provides low-cost capital to spur economic growth and jump start community revitalization. Qualified CDFIs are able to access bonds which provide substantial long-term, fixed-rate capital to invest in distressed communities.
By utilizing the bond program, Fahe is able to greatly increase the amount of people we serve and the impact on our Appalachian communities. Fahe will utilize the $20 Million to develop high-impact community development initiatives including the financing of affordable rental housing, healthcare facilities, senior living facilities, not-for-profit organizations, small businesses, and commercial real estate in the greater Appalachian region.
Fahe has utilized CDFI Bond funds in the past to great success. The money has been used to help Fahe Members reposition their balance sheets by converting short term liabilities into long term payables, to finance affordable rental housing, and to finance community facilities such as recovery centers in eastern KY and the coal fields of West Virginia.
For more information on how Fahe utilizes CDFI Bond funds, visit our Community Lending Page.