United States of America
Last updated 13 May 2020, by Impactyield.
Developed countries (203) / More developed regions (202) / More developed regions (North America, Asia & Oceania) (153) / United States of America (112)
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 .
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.
of track record
the year funded
Equal rights to ownership basic services technology and economic resources
Safe and affordable housing
Full employment and decent work with equal pay
Increase aid for trade support
Develop sustainable, resilient and inclusive infrastructures
Increase access to financial services and markets
Key performance indicators
Asset manager: Community Reinvestment Fund, USA (CRF)
Product track record: Fund has 15 years of track record
Target IRR: 8.2%
Committed Capital: 68,154,000 USD (US Dollar)
Target return category: Risk-adjusted market-rate of return
Fund domicile: United States of America
Product status: Closed - no longer investing
Inception year: 2008
Vintage year: 2008
Target region: Developed countries, More developed regions, More developed regions (North America, Asia & Oceania), United States of America
Target close date: n.a.
Product term: Various, 2 – 27 years
Assets under management: 68,154,000 USD (US Dollar)
Investment size: Min: 0; Max: 0; Avg: 0
Currency of investments: USD (US Dollar)
Currency for fund / product figures: USD (US Dollar)
Fund investments to date: 153
Fund investments to date exited or repaid: 45
Management fee: n.a.
Carried interest: n.a.
Hurdle rate: n.a.
GIIN Investors' Council Investment: Yes
Limited Partners / Investors: n.a.
Limited Partner / Investor Type: Development Finance Institution (DFI), Family Office, Pension Funds, Other Institutional Investors
E-mail: email@example.com firstname.lastname@example.org email@example.com
Phone number: 800-475-3050
If you wish to have your details removed from this database please email firstname.lastname@example.org
President & CEO
Senior Vice President and Chief Financial Officer
Vice President of Development
CRF-19, like all 22 investment facilities developed by CRF, provides loan capital for community development in low-income communities or for low-income populations. CRF provides loans for local community development lenders so they can meet goals such as :
- Grow small businesses
- Increase affordable housing
- Create and preserve jobs
- Build child care centers
- Develop community facilities
See the attached Community Impact Report for more information, including impact performance data.
CRF is a US Treasury-certified Community Development Financial Institution (CDFI). It is also licensed by the Small Business Administration (SBA) for SBA 7(a) loans. 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.
Community Investing/LocalMinorities/Previously Excluded PopulationsRuralUrbanWomen