Charleston affordable housingSC Community Loan Fund is benefiting from a $250,000 equity equivalent investment (EQ2) from Wells Fargo, the proceeds of which will be used to help fund our lending program that provides financing for affordable housing development.

EQ2s are patient capital in the form of below-market-rate loans. Wells Fargo says this limited resource is reserved for nonprofit community development partners that are working to expand affordable housing, job creation and economic development in the communities where Wells Fargo does business.

Community Development Financial Institutions like CLF have a 98% repayment rate on the loans made, so the money we receive from investments like this one from Wells Fargo, as well as donations you make, can be lent out to the community again and again.

When you look at the big picture, these investments not only help increase the quality and availability of affordable housing, they also act as a catalyst to create a positive social impact in South Carolina.

For more information about SC Community Loan Fund, please visit our website at sccommunityloanfund.org.