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LIMAC

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LIMACLarge Integrated Monolithic Array Computer

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7, 1995--Bank of America Community Development Bank has provided a $20 million credit facility to the Local Initiatives Managed Assets Corporation (LIMAC), which will help LIMAC maintain a secondary market for affordable housing and community development loans, and help provide new capital for the creation of low-income housing across the country.
According to Gabriella Coleman, vice president, Corporate Social Responsibility, and president of The Prudential Foundation, the main objective of the financing is to enable LIMAC to purchase loans from community development loan originators, thus enabling the originators to increase their lending activities and offer longer term loans.
 
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