Hawaii Community Reinvestment Corporation
Hawaii Community Reinvestment Corporation (HCRC) is a 501(c)3 community-based non-profit corporation founded in 1990. HCRC is designated a Community Development Financial Institution (CDFI) and Community Development Entity (CDE) by the U.S. Department of Treasury.
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.
HCRC is launching a Hawaii-based loan fund in affiliation with LISC that creates additional sources of patient capital in the State of Hawaii. The Loan Fund provides capital to entities that have limited access traditional bank financing to fill a gap that only CDFIs are able to fill.
HCRC is a self-sustaining community development lender using blended capital solutions leveraging grants, governmental programs, private investors and traditional capital to increase economic capacity and security for businesses in Hawaii.
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's most recent IRS Form 990 is available for public review on www.guidestar.org