Rebuilding a community one house at a time – A borrower’s story

For the last five years, Durham Cobette Group has successfully acquired, renovated and leased or sold more than 11 distressed properties in the Washington Park neighborhood. Due to cash investments in the renovations of additional properties, Nikki Crump, owner of Durham Cobette Group, was unable to pay property taxes for one year on a home that was slated to be sold. Ms. Crump was able to secure funding from CNIMFG to pay off back taxes, hire a part-time property manager and lease office space. Now the proceeds that she will received from the sale of the home will be used to secure and renovate another distressed property in the Washington Park neighborhood.