Investment Spotlight: Dearfield Fund for Black Wealth
Gary Community Ventures seeks to address the disparity in access to capital for Black borrowers through the Dearfield Fund for Black Wealth. The Dearfield Fund aims to generate an average of $100K in net worth for 500-600 Black families, leading to $50-$75M in wealth creation for the Black community in Denver, CO. The Fund provides up to $40K in down payment assistance to enable Black first-time homebuyers in the Denver metro area to purchase homes and create long-term wealth. The capital investment makes it easier for eligible borrowers to qualify for a primary mortgage, helps lower interest rates and monthly payments, and increases the probability of closing on a home in a competitive market.