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In 2001, State Farm Insurance Company provided a $2 million grant to capitalize the initial equity and long-term operating support necessary to build Community Housing Capital into a self-sustaining enterprise. This grant was then matched by a $1 million grant from the U. S. Treasury’s Community Development Financial Institutions Fund. Over the next several years,
State Farm Insurance and State Farm Bank provided significant investments totaling $45 million in Community Housing Capital to make loans to NeighborWorks® organizations across the country. The revolving investments funded more than $81 million in loans to NeighborWorks organizations for housing rehabilitation and interim real estate development financing in both urban and rural communities across the country. The State Farm grants and investments served as a catalyst for attracting additional investments from America’s top financial institutions.

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