CRF-19, LLC.

CRF-19 LLC is a closed offering sponsored by Community Reinvestment Fund, Inc. (CRF), a nonprofit financial intermediary providing loan capital for community development in low-income communities or low-income populations. CRF provides loans for small businesses/job creation, multifamily affordable housing and community facilities.

CRF-19 LLC is the latest of 22 investment facilities for small business loans and affordable housing that CRF has issued over its 24 year history. CRF issued the first S&P-rated facility backed by community economic development loans. CRF is also one of the nation’s largest federal New Markets Tax Credits allocatees. This investment offering was backed by 153 development loans across the United States. CRF has funded more than $1.3 billion in community development loans in 46 states and the District of Columbia. CRF loans have directly assisted more than 531,000 people through jobs, affordable housing or services at local community facilities.

CRF accepts grants and low-interest loans (Program Related Investments and Equity Equivalent Investments) from socially motivated investors. These resources are used for credit enhancement to attract market-rate capital, which is the great majority of our capital resources. Information at www.crfusa.com .

Financial description

CRF-19, LLC is the latest S & P-rated securitized facility offered to investors. It is a closed fund that was collateralized by a pool of 153 loans for small businesses, housing and community facilities, such as community clinics, charter schools, child care centers, training centers and the like. These community development loans were made prior to the securitization issuance and each loan was detailed in the private placement memo. No additional loans will be made from this facility.
CRF delivers loan capital to for-profit and non-profit organizations that would otherwise be unable to access reasonably-priced and appropriately-termed debt. CRF loans target low-income communities (Poverty Rate of 20% or more or Median Family Income 80% or less of AMI) and traditionally disadvantaged populations.
CRF-19 was issued with 8 tranches for investors and 2 additional tranches retained by CRF. In a letter dated April 3, 2008, the first 3 tranches were rated ‘AAA’ by Standard & Poor’s with the next 4 tranches rated ‘A’ through ‘B’. As of March 2012, the A-1 tranche ($15,708,000) has been entirely repaid.