Low Income Investment Fund (LIIF): housing…

LIIF’s public impact scorecard, from the 2025 impact report, is $3.9 billion invested and 2.6 million people served. Affordable housing has been the core book since founding, with more than 108,000 units produced or preserved. The organization also finances early care and education and community facilities such as charter schools, nonprofit space, and health centers. It has set a 2020–2030 goal of $5 billion in community investments and reported 77 percent of that goal as of 30 June 2025. Fiscal 2025 audited figures show total assets of $797 million, notes receivable of $616 million, and total net assets of $222 million. The year closed 65 loans.

Lending tools include acquisition, construction, rehabilitation, and green retrofit financing for affordable homeownership and multifamily rental, plus New Markets Tax Credits and Low Income Housing Tax Credit activity through related channels. An FY25 project spotlight describes a $2.75 million, eight-year Brighter Futures Fund loan paired with NMTC for a New Orleans early care center co-located with affordable housing, supported with Goldman Sachs. ECE work includes more than $660 million invested and about 430,000 child care program spaces created, preserved, or enhanced. LIIF presents itself as catalytic and higher-risk than banks, willing to do smaller or earlier loans and to work in markets banks skip.

Supporters named in the 2025 report include banks, foundations, and public agencies such as Goldman Sachs Foundation, Bank of America Charitable Foundation, MacKenzie Scott, the CDFI Fund, and Wells Fargo. The organization is a lender and fund manager for mission sponsors, not a venture equity firm.

Key benefits

$3.9 billion invested

Lifetime lifetime capital into communities, with a 2020–2030 goal of $5 billion and 77 percent of that goal reached by mid-2025.

108,000-plus affordable homes

Housing has been the core book since 1984, across production, preservation, acquisition, rehab, and green retrofit.

Housing plus child care and facilities

ECE and community facilities sit beside housing, including NMTC stacks and the Brighter Futures Fund with Goldman Sachs.

Catalytic CDFI underwriting

LIIF says it takes smaller, earlier, and higher-risk loans than banks and works in markets the private sector skips.

Published unit economics for every loan size are not listed as a single menu. The check-size band on this profile, $100,000 to $10 million, reflects typical CDFI real estate tickets and examples such as the $2.75 million Brighter Futures loan, while leaving room below large bank construction facilities. Sponsors should treat that as a planning range and confirm current product sheets with the lending team. Geography is national, urban to rural. Impact is tracked in homes, child care seats, and people served rather than startup equity multiples.

Operators and developers start with the lending-tools and affordable-housing pages on liifund.org. LIIF is a fit when the capital stack needs a CDFI that will take construction, acquisition, or retrofit risk banks leave on the table, especially when housing is paired with child care or other community facilities.

Frequently asked questions

What does Low Income Investment Fund fund?

The Low Income Investment Fund (LIIF) is a nonprofit community development financial institution that raises and structures capital for projects mainstream banks will not fully serve. It began in 1984 as the Low Income Housing Fund. Headquarters are at 49 Stevenson Street, Suite 300, San Francisco, CA 94105, with regional offices in New York City, Atlanta, Los Angeles, and Washington, D.C. Daniel A. Nissenbaum is chief executive officer. Kimberly Latimer-Nelligan is president. Maygen Moore is senior vice president and chief lending officer. Reymundo Ocañas of PNC Bank chairs the board. LIIF’s public impact scorecard, from the 2025 impact report, is $3.9 billion invested and 2.6 million people served. Affordable housing has been the core book since founding, with more than 108,000 units produced or preserved. The organization also finances early care and education and community facilities such as charter schools, nonprofit space, and health centers. It has set a 2020–2030 goal of $5 billion in community investments and reported 77 percent of that goal as of 30 June 2025. Fiscal 2025 audited figures show total assets of $797 million, notes receivable of $616 million, and total net assets of $222 million. The year closed 65 loans. Lending tools include acquisition, construction, rehabilitation, and green retrofit financing for affordable homeownership and multifamily rental, plus New Markets Tax Credits and Low Income Housing Tax Credit activity through related channels. An FY25 project spotlight describes a $2.75 million, eight-year Brighter Futures Fund loan paired with NMTC for a New Orleans early care center co-located with affordable housing, supported with Goldman Sachs. ECE work includes more than $660 million invested and about 430,000 child care program spaces created, preserved, or enhanced. LIIF presents itself as catalytic and higher-risk than banks, willing to do smaller or earlier loans and to work in markets banks skip. Supporters named in the 2025 report include banks, foundations, and public agencies such as Goldman Sachs Foundation, Bank of America Charitable Foundation, MacKenzie Scott, the CDFI Fund, and Wells Fargo. The organization is a lender and fund manager for mission sponsors, not a venture equity firm.

What is Low Income Investment Fund's check size?

$100,000 – $10,000,000

What is Low Income Investment Fund's investment thesis?

LIIF’s thesis is that high-quality affordable housing, early care and education, and essential community facilities are the backbone of economic mobility, and that those projects need catalytic debt and tax-credit structures when private markets underwrite too tightly. Borrowers are mission-aligned nonprofit and for-profit real estate sponsors, ECE providers, and community-facility developers. Products span the project life cycle: early and unconventional financing, acquisition and rehab, green retrofit, NMTC, and related federal capital sources. Published unit economics for every loan size are not listed as a single menu. The check-size band on this profile, $100,000 to $10 million, reflects typical CDFI real estate tickets and examples such as the $2.75 million Brighter Futures loan, while leaving room below large bank construction facilities. Sponsors should treat that as a planning range and confirm current product sheets with the lending team. Geography is national, urban to rural. Impact is tracked in homes, child care seats, and people served rather than startup equity multiples. Operators and developers start with the lending-tools and affordable-housing pages on liifund.org. LIIF is a fit when the capital stack needs a CDFI that will take construction, acquisition, or retrofit risk banks leave on the table, especially when housing is paired with child care or other community facilities.

Which sectors does Low Income Investment Fund invest in?

Built Environment, Community Development, Impact Finance