Cinnaire Lending Corporation, a certified Community Development Financial Institution (CDFI) has been awarded a $10 million loan from KeyBank‘s CDFI Lending & Investment Group. The loan will support Cinnaire’s lending pool, which works with mission-driven investors to create out-of-the-box lending products to finance affordable housing, education, healthcare, community facilities and economic development projects. Cinnaire will leverage KeyBank’s capital to invest in underestimated communities that have been systematically denied access to capital, primarily in KeyBank’s footprint states including Pennsylvania, Indiana, Ohio, and Michigan.
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.
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“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.”
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“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.”
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