Pathway Lending, Tennessee’s largest non-depository Community Development Financial Institution, announced today that it has been awarded a $60,000 grant from U.S. Bancorp Impact Finance, a subsidiary of U.S. Bank. The funding will support Pathway’s real estate development programs in Tennessee, which aim to advance equity, provide technical assistance to underrepresented communities and address the state’s pressing affordable housing challenges.
The grant will help expand Pathway’s key programs, including the Emerging Developer Community, the Real Estate Mastermind Group and the new Emerging Developer Loan Program. These initiatives align with Pathway’s mission to equip local real estate developers with the technical skills, mentorship and capital access needed to create impactful projects in underserved areas.
“Through comprehensive training, mentorship, financing and the building of peer networks, we’re equipping emerging real estate developers to create meaningful change in Tennessee’s underserved communities,” says Leslie Hayes, SVP of entrepreneurship and education. “Impact Finance’s support helps us to bridge critical gaps in expertise and funding, enabling emerging developers to bring much-needed affordable housing projects to life.”
Since its launch in 2020, Pathway Lending’s Emerging Developer Community has served 140 aspiring and experienced real estate developers. To date, 95 percent of those students are developers of color and more than one-third of the developers are women. The program offers six-week training sessions designed to provide participants with the skills and knowledge necessary to develop small, multifamily affordable housing projects across Tennessee. The grant will allow Pathway to enhance the curriculum, expand resources, and focus on key areas such as project management and financial modeling, ensuring participants are equipped for long-term success.
“Strengthening the capacity of local emerging developers is at the heart of this initiative,” said Torrence Moore, senior vice president of U.S. Bancorp Impact Finance. “The opportunity to award these grants aligns with our ongoing efforts to help build capacity and capabilities.”
Pathway’s Real Estate Mastermind Group further supports developers through monthly meetings featuring subject matter experts who offer mentorship and specialized education. Participants receive personalized guidance, including assistance with pro forma and financial modeling, and gain insights critical to navigating the complexities of real estate development. In addition, Pathway will soon launch a Community Real Estate Loan Readiness Class, designed to help emerging developers prepare for capital access.
Graduates of the Emerging Developer Community now have access to the new Emerging Developer Loan Program, which offers loans of up to $500,000 for site acquisition, pre-development and project soft costs for small, multifamily developments.
Together, these resources aim to nurture a new generation of diverse, skilled real estate developers who are uniquely positioned to tackle affordable housing challenges across the state. With Impact Finance’s support, Pathway Lending is fostering economic growth, community revitalization and sustainable development.
Developers interested in joining Pathway Lending’s Emerging Developer Community can visit www.pathwaylending.org or contact Keyunta Dawson, director of CRE & entrepreneurship education, at [email protected].
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