FREQUENTLY ASKED QESTIONS

What is a CDFI? Q-1
What is FMG’s market area? Q-2
What are FMG’s sources of capital? Q-3
What does FMG finance? Q-4
How do I apply for FMG financing? Q-5
My project requires capital greater than FMG’s loan limit. Can FMG still help? Q-6
Does FMG offer services other than financing? Q-7
How can I support FMG? Q-8

What is a CDFI?
A CDFI (community development financial institution) is a private financial intermediary that works in market areas that are underserved by traditional financial institutions. To learn more about CDFIs and our community impact, view our story. (https://vimeo.com/32012679)

What is FMG’s market area?
FMG works in Low to Moderate Income Communities exclusively. All community development projects financed by FMG must be located within Districts Zoned Low to Moderate by FMG Standards which take into account FHA Guidelines on Distressed Communities.

What are FMG’s sources of capital?
FMG receives capital from a diverse group of investors and donors including banks, individuals, foundations and government. The FMG Loan Fund receives capital in the form of loans or equity contributions. Investors who lend to FMG do so for a modest financial return and high community impact.

What does FMG finance?
FMG engages in a strategic approach to financing that can be broadly divided into the following project areas:
- Housing, single and multifamily—FMG has helped to finance over 256 homes for low and moderate income families. We target projects in specific neighborhoods, and focus on stabilizing areas with high potential for market recovery.
- Mixed used development—FMG offers financing for projects that spur commercial development while blending residential, cultural and institutional growth in neighborhoods.
- Facilities—FMG provides financing to redevelop property providing services in neighborhoods, such as child care centers and residential group homes.

How do I apply for FMG financing?
FMG offers flexible financing for borrowers in need of loans. Before applying for financing, we encourage you to review the LENDING OPTIONS section of our website that provides information on financing products and lending criteria. Once you have determined your project’s eligibility, APPLY FOR A LOAN HERE or, should you have questions or need additional information, contact FMG at (800) 836-5303. We encourage all prospective borrowers to schedule an interview with a loan officer prior to submitting an application.

My project requires capital greater than FMG’s loan limit. Can FMG still help?
YES! FMG can partner with other lenders to package financing sufficient to meet loan requests greater than our loan limit of $100,000 . FMG can also serve as a “gap lender,” providing financing for the amount between what banks and other lenders are willing to lend and the borrower’s equity.

Does FMG offer services other than financing?
YES! FMG provides development services, including training, technical assistance and construction management (work scope reviews, itemized cost estimates, property inspections). FMG also provides workshops and seminars. You can learn about FMG educational events here. (Hyperlink-FaceBook) For technical assistance or construction management services, contact FMG at (800) 836-5303 .

How can I support FMG?
You can invest in the FMG Loan Fund, make a beneficial social impact, and earn a modest return on your financial investment. To learn more, contact us. You can also donate to FMG online, (HyperLink-Dwolla) or by check. Businesses and individuals that contribute to FMG may be eligible for Community Investment Tax Credit. Learn how to turn a fully tax-deductible contribution into a credit of $250 or more here. FMG’s most recent annual report and audited financial summary statement can also be accessed here. (HyperLink-Annual Report)

Our most frequently asked question is:

What is a CDFI?

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