Church Lending (and Other Ways to Renew Urban Neighborhoods)
As urban areas across the country grow and change, community development financial institutions like Metro Bank in Louisville, Ky., are meeting the unique needs of these evolving neighborhoods. On the latest episode, Pedro Bryant—president and CEO of Metro Bank, Kentucky’s only bank designated as a CDFI—discusses: How Metro Bank employs New Markets Tax Credits to finance significant projects in its target Louisville and Jefferson County neighborhoods. Metro Bank’s customized loans to churches, which provide critical funds to grow facilities and programs at organizations uniquely situated to support community revitalization. Key underwriting factors bankers should consider when lending to houses of worship. The need for bankers to participate in the policymaking process to encourage growth and economic development, especially in rural areas and small towns.
