KeyBank Community Development Lending and Investments (CDLI) provided a $20 million term loan to Enterprise Community Loan Fund Inc. (Enterprise) to support Equitable Path Forward, a $3.5 billion nationwide initiative to help dismantle the legacy of racism in housing.
Anchoring the initiative is a $350 million Growth Fund composed of loans, equity and grants, for Black, Indigenous and people of color (BIPOC) developers to support affordable and workforce housing projects across the United States, according to the press release. KeyBank’s partnership with Enterprise furthers its relationships with community development financial institutions (CDFIs), allowing financial institutions the opportunity to directly invest in projects that support racial equity in underinvested communities of color.
