Hawaii Community Reinvestment Corporation
Hawaii Community Reinvestment Corporation (HCRC) is a 501(c)3 community-based non-profit corporation founded in 1990. The mission of HCRC is to facilitate affordable housing, community development, and economic development throughout the State of Hawaii by providing innovative financing, training and consulting services.
History of Impact
HCRC has facilitated over $200 million in financing to support the development of over 3,500 affordable housing units in the State of Hawaii, $3.6 million in financing for small businesses through the SBA 504 Loan Program, and over $4.8 million in energy efficiency loans through the DBEDT Greensun loan loss reserve program.
To help build the resources to find a long-term solution for the affordable housing challenges in Hawaii, HCRC gifted $790,000 to the University of Hawaii Foundation to establish an endowment for the Hawaii Community Reinvestment Corporation Distinguished Professorship in Affordable Housing.
HCRC granted $2MM to a local nonprofit to support the preservation of low income housing in a Transit-Oriented Development (TOD) district in April 2018. The grant partially funded the acquisition of real property used for transitional & supportive housing for homeless people.
HCRC convened 17 collaborative community development meetings in 2018 meeting with over 720 stakeholders.
HCRC forged an affiliation with Local Initiatives Support Corporation (LISC), a highly reputable and established national intermediary community development financial institution to launch the LISC HCRC Hawaii Loan Fund. HCRC will leverage its local expertise with LISC, a proven national CDFI, to increase economic capacity and security for businesses in Hawaii.