Community Development Financial Institution

In January 2000, the US Treasury certified CASA of Oregon a Community Development Financial Institution (CDFI). CASA of Oregon subsequently received a $505,000 award from the Treasury to help fund its CDFI.  The award supplements a pool of predevelopment dollars CASA of Oregon loans to affordable housing and community facilities projects throughout the rural Northwest. 

The CDFI (and its predecessor loan fund) have assisted in the construction of nearly 1000 units leveraging more than $80 million in private and public funds.

 The CDFI fund now has $1,643,000, consisting of $543,000 in equity and $1,100,00 in debt with a 2% interest rate.  Funds can be used throughout the Northwest for any type of affordable housing or other purposes serving low-income populations, including community centers, clinics, and Head Start centers. 

Loans made through the CDFI charge a 5% interest per annum and no loan fees.  Loan terms are up to 24 months with a maximum loan amount of up to $200,000 per project.  The funds can be used for such cost as architectural and engineering fees, legal fees, environmental impact studies, appraisals and rehabilitation of on-farm farmworker housing.