Cincinnati Development Fund

What Cincinnati Development Fund does

Cincinnati Development Fund (CDF) is a 501(c)(3) nonprofit Community Development Financial Institution (CDFI) founded in 1988 by Cincinnati-area financial institutions to share risk and invest in community development lending across the Greater Cincinnati region. Headquartered at 1818 Race Street, Suite 401 in Cincinnati, Ohio, with a staff of approximately 20, CDF provides real estate financing for underserved neighborhoods through a unified lending platform that includes acquisition and predevelopment loans, construction and rehabilitation loans, permanent mortgage loans, an Affordable Housing Leverage Fund (AHLF) that aggregates public, private, corporate, and charitable capital, New Markets Tax Credit (NMTC) allocation, mixed-use neighborhood development financing, nonprofit facilities and equipment funding, and energy efficiency financing.

Name

Cincinnati Development Fund

Legal name

Cincinnati Development Fund

Website

https://cindevfund.org

Company type

Private

Founded year

1988

Operating status

Operating

Headcount range

11–50 employees

Short description

Cincinnati Development Fund is a 501(c)(3) nonprofit CDFI founded in 1988 that provides real estate financing — predevelopment, construction, permanent, and NMTC-supported loans — to developers and nonprofits in underserved Greater Cincinnati neighborhoods.

Ownership category

akta.pro rank

Product category

Community Development Lending

NAICS

Credit Unions (52213), Other Financial Vehicles (52599), Administration of Urban Planning and Community and Rural Development (92512)

SIC

Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Impact Investing & Social Finance (Funds, CDFIs, Microfinance) (BPAGALAA)

akta.pro secondary industries

Community Development & Affordable Housing Funds (FSANAJAK), Community Development & Neighborhood Revitalization Housing Programs (FSALAKAO), Community Development & Neighborhood Revitalization (CDBG, Place-Based Initiatives) (BPAIANAE), Community Development Credit Unions (CDCUs) (FSABAEAC)

Keywords

• Community development lending
• Affordable housing financing
• Real estate development loans
• Nonprofit community lending
• Neighborhood revitalization financing

Headquarters

HQ city

Cincinnati

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Loan Origination and Interest: CDF generates revenue through loan origination fees and interest on construction loans, permanent mortgage loans, predevelopment loans, and other lending products. As a nonprofit CDFI, revenue supports operations and community lending programs rather than profit distribution.
2. Grants and Foundation Support: The organization receives grants from foundations (MassMutual Foundation, KeyBank Foundation) and government sources to support affordable housing programs and expand lending capacity through funds like the Affordable Housing Leverage Fund.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Cincinnati Development Fund is a 501(c)(3) nonprofit Community Development Financial Institution (CDFI) that provides real estate development financing for underserved neighborhoods in Greater Cincinnati. Its core offering is a unified lending platform spanning predevelopment/acquisition loans, construction and rehabilitation loans, permanent mortgage loans, New Markets Tax Credit allocations, and aggregated financing vehicles such as the Affordable Housing Leverage Fund (AHLF).

Product overview

Cincinnati Development Fund is a 501(c)(3) nonprofit Community Development Financial Institution (CDFI) offering a unified lending platform focused on community development financing. The core offerings include General Lending products (acquisition, predevelopment, construction, rehabilitation, and permanent mortgage loans), the Affordable Housing Leverage Fund (AHLF) for aggregating public and private funds for affordable housing, New Markets Tax Credits (NMTC) for low-income community projects, Access to Capital for contractors and nonprofits, Energy Efficiency financing, Housing Development, Mixed-Use Neighborhood Development, and Nonprofit Facilities funding. The organization fills gaps not covered by traditional lenders to strengthen underserved neighborhoods in Greater Cincinnati.

Differentiator

Problem solved

Functional benefit

Products and services

• General Lending (CDF real estate loan products)
• Affordable Housing Leverage Fund (AHLF) An aggregation of funds managed by CDF that combines public, private, corporate, and charitable sources to finance the construction, rehabilitation, and preservation of affordable housing in Greater Cincinnati. Designed to help local developers overcome early funding barriers.
• New Markets Tax Credits (NMTC) Federal New Markets Tax Credit allocation program that enables CDF to direct tax credits to projects in low-income communities, supporting business districts, manufacturing facilities, and community spaces. FY26 allocation was a record $70M; all-time $452.4M.
• Access to Capital Short-term financing products for general contractors and nonprofit developers for capital projects, facility improvements, equipment purchases, and program expansion.
• Energy Efficiency Financing Financing products supporting projects with energy efficiency features, including LEED-certified construction and green building initiatives.
• Housing Development Financing Financing for affordable housing development including new construction and rehabilitation of single-family homes and townhomes.
• Mixed-Use Neighborhood Development Financing Financing for multi-site, mixed-use, mixed-income projects in neighborhood business districts including commercial space and housing units.
• Nonprofit Facilities Funding Facilities and equipment funding for nonprofit organizations, including capital projects and bridge capital campaigns for community-serving organizations.

Quantifiable outcome

• $608M total lending deployed since inception
• +4 more outcomes

Named customers9 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered moderate and major.

• Bon Secours Mercy HealthmoderateOthersHealthcare system providing community benefit investment supporting health-related community development projects.
• Cincinnati Center City Development Corporation (3CDC)majorStrategic or Co-development PartnerMajor CDC partner for downtown and urban core development projects in Cincinnati, co-investing in neighborhood revitalization.
• Uptown ConsortiummoderateStrategic or Co-development PartnerConsortium of Uptown Cincinnati institutions supporting development in that corridor, particularly near Cincinnati Children's Hospital.
• The Model GroupmajorStrategic or Co-development PartnerMajor nonprofit developer in Walnut Hills and other neighborhoods, CDF has financed multiple Model Group projects including Paramount Square, Peebles Apartments, and Paramount Launch.
• Kaiker Development + ConstructionmoderateStrategic or Co-development PartnerCincinnati-based developer that partnered with CDF on State Avenue Lofts project in Lower Price Hill.

Scale indicators10 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Local Initiatives Support Corporation (LISC): National nonprofit CDFI providing loans, equity, and technical assistance for affordable housing and community development — directly comparable operating model, including a Greater Cincinnati office that has partnered with CDF on multiple projects.
• Enterprise Community Loan Fund (ECLF): National nonprofit CDFI financing affordable housing and community facilities — directly comparable lending products, target borrowers (developers and nonprofits), and reliance on bank and foundation capital, with active partnership relationship with CDF.
• IFF: Midwest-based CDFI providing real estate financing and technical assistance to nonprofits and developers — closely overlapping product set (predevelopment, construction, permanent loans) and target customer base; listed as a CDF capital partner.
• Finance Fund: Ohio CDFI providing loan capital and support for community development projects — directly comparable state-level CDFI model serving overlapping nonprofit and developer clients in Ohio.
• Ohio Capital Corporation for Housing: Statewide nonprofit housing finance organization providing capital for affordable housing development in Ohio — directly comparable affordable housing lending focus with overlapping state geography.
• Reinvestment Fund: National mission-driven CDFI financing affordable housing, education, healthcare, and community development — comparable integrated lending model with similar multi-source capital stacking capability.
• NeighborWorks Capital: National CDFI serving NeighborWorks network with flexible real estate financing for affordable housing — closely comparable community development lending products and nonprofit-developer customer base.

Broad incumbents

• Federal Home Loan Bank of Cincinnati: FHLBank providing affordable housing program capital through member institutions — comparable affordable housing finance mission in the same Greater Cincinnati geography, but operating at much larger scale through member-bank distribution.

Regional players

• Cincinnati Center City Development Corporation (3CDC): Major Cincinnati-focused nonprofit CDC co-investing with CDF on downtown and urban core projects — overlapping Cincinnati geography and real estate development focus, but with a more concentrated downtown urban-renewal mandate.
• Habitat for Humanity of Greater Cincinnati: Local Habitat affiliate with board representation on CDF — overlapping affordable housing mission and Greater Cincinnati geography, though Habitat's direct construction model differs from CDF's lender role.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/cindevfund
• LinkedInlinkedin.com/company/cincinnati-development-fund
• Instagraminstagram.com/cindevfund
• Xx.com/cindevfund

Revenue estimate

Valuation estimate

Number of profiles

Profiles23 records

Funding overview

Funding rounds4 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cincinnati Development Fund