CARS™ Updates and Improvements
This year, CARS™ plans to double our activity--releasing ratings for 20 CDFIs, including re-ratings for six organizations. And during the fourth quarter, we will begin analyses on an additional six CDFIs that will be released in early 2009. We have already released ratings and analyses for Vermont Community Loan Fund, Century Housing, and Low Income Investment Fund. The rating of Low Income Investment Fund marks another milestone reached for CARS™ as it was our first re-rating of a CDFI! Take a look at the growing list of Rated CDFIs.

Opportunity Finance Network announced the availability of financing for manufactured housing communities in the form of unsecured loans or participation loans with member CDFIs. We have already approved $200,000 financing to the Cooperative Fund of New England in 2008. Download the term sheet. Please contact Howard Banker at hbanker@opportunityfinance.net or 215.320.4302 for further information.

Opportunity Finance Network has already approved $2.0 million in financing to 6 CDFIs in 2008 that finance affordable housing, community facilities, and small businesses in low-income communities throughout the U.S. We've also closed 10 loans this year for a total $13.5 million (including 2 loans totaling $7.5 million for the Wachovia NEXT Awards for Opportunity Finance).

If you are interested in learning about accessing capital from Opportunity Finance Network’s Financing Fund, please contact Prudence Lee at plee@opportunityfinance.net or 215.320.4305.