Established in 1990 as a wholly-owned subsidiary of the North Carolina Bankers Association, the Community Investment Corporation of the Carolinas (CICCAR) is one of the largest affordable housing loan consortium of its kind in the nation.

CICCAR has approved over $325 million in loans to date – creating almost 20,000 rental units for working families, seniors and people with disabilities – in nearly 375 apartment communities located throughout Georgia, North Carolina, South Carolina, Tennessee, Virginia, and West Virginia. Approximately one-third (30-35%) of its lending is in rural areas.

CICCAR is an affordable housing loan consortium with over 100 bank members. Membership is open to all financial institutions in the Southeast. Its developments house families, seniors, and persons with disabilities that earn no more than 60% of the area median income and residents pay no more than 30% of their income for housing. Most of the CICCAR communities have received an allocation of Federal low income housing tax credits and also have some form of subordinate debt. The subordinate debt typically comes from the City, County, Federal HOME funds, AHP Grants, CDBG funds or State Housing Trust funds. Its lending program is an excellent example of how public and private partnerships can be forged to achieve a common goal of helping those less fortunate.



Community Housing Capital (CHC), a national Community Development Financial Institution intermediary, serves exclusively as a direct lender to the NeighborWorks network. Incorporated in 2000, Community Housing Capital is certified as a community development financial institution and a community development entity by the U.S. Treasury’s CDFI Fund. It has financed over 8,100 units of affordable housing.

Lending to members of the NeighborWorks network, CHC provides both interim real estate development loans and permanent multifamily loans with favorable rates and terms. Loans are underwritten with the flexibility required to finance complex transactions with multiple layers of subsidies. To implement its loan programs, CHC uses grant funds provided by NeighborWorks America and the CDFI Fund to significantly leverage private-sector debt capital from socially responsible investors.