Housing Trust Fund Ventura County (Housing Trust Fund VC) announces a $1,500,000 CRA line of credit from Montecito Bank & Trust. The EQ2 (equity equivalent investment) product being leveraged for this Community Reinvestment Act (CRA) line of credit is a long-term loan that allows community development financial institutions (CDFIs), like Housing Trust Fund Ventura County, to strengthen their capital structures and leverage additional debt capital resulting in the ability for increased lending and investing in economically disadvantaged communities, in this case through the development of affordable housing for seniors, farmworkers, the homeless, transitional age foster youth, and low-, very-low, and extremely-low income individuals and families in communities throughout Ventura County.
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July 2024
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