Commercial Loan Fund: CommunityWorks was approved by USDA Rural Development Intermediary Relending Loan Fund in 2008 to provide a commercial revolving loan fund to commercial developers in rural communities. Under this loan, funds are available to assist with financing business and economic development activity to create or retain jobs in disadvantaged and remote communities throughout West Virginia.
Rental Housing Development Loan: CommunityWorks in West Virginia (CWWV) is the only CDFI in West Virginia (WV) dedicated to increasing the supply of affordable housing, deploying lending and development services to support low-income homebuyers and current homeowners as well affordable housing developers. CWWV operates in a statewide Low-Income Targeted Population (LITP) Target Market (TM) in WV.
In 2017, CommunityWorks was awarded $450,000 in federal funds from the CDFI Fund to create a new affordable rental housing line of business. These loans are made to member organizations to meet the growing demand for affordable rental housing across the state. In 2019, CommunityWorks was awarded $550,000 to invest in it’s Homeownership and Rental Revolving Loan Fund.