Borrower Stories
Through PCG’S GAP Loan Program, PCG worked with Legacy Bank & Trust and Locke Capital to leverage Legacy Bank’s $3,275,000 funding with a PCG funded $400,000 subordinate tranche in Legacy Bank’s $3,675,000 loan. The loan refinanced short-term acquisition financing, will retain 97 units of Read More
A loan from Partners enabled this corporation to purchase and preserve sixteen affordable housing units and a Caribbean grocery store in the Washington Heights neighborhood of New York.
PCG’s $600,000 loan is the first loan funded under a new GAP loan program. The program was partially funded with a CDFI grant with a purpose of enabling partnerships with CDFI banks who face more stringent regulatory requirements, particularly loan to value constraints.