Funding Opportunity for Housing Providers

FUNDING OPPORTUNITY FOR HOUSING PROVIDERS

Credit Builders Alliance is offering grant funding and support to housing providers across the Atlantic seaboard seeking to implement rent reporting.  

With funding from TD Bank, we are selecting a group of affordable housing providers to receive a $6,000 grant, individualized technical assistance, and inclusion in a peer group of agencies implementing rent reporting. Over the course of eight months this cohort will work to implement robust rent reporting programs at their agency.

 

Ready to apply?

If you determine that your agency is a good fit, we invite you to fill out this application by 8/20/21.  

 

PROVIDER SELECTION CRITERIA

Own and/or operate affordable housing

This includes housing providers, property managers, resident service providers and others that work directly with residents of affordable housing.

 

Have the staff capacity to implement

This includes residents service staff and/or property management staff that are willing to take on resident outreach and enrollment responsibilities, and a point person who will oversee implementation and participate in cohort calls.

 

Have properties located within the TD Bank footprint

Has properties located within the TD Bank footprint.

Motivated to take action

Provider must be motivated to take action to make rent reporting a reality for their residents within the grant period 

 

Committed long-term

Will need to be committed to investing in rent reporting as a long-term strategy (beyond the initial grant period).

 

Invested in learning about credit issues

Are interested in building staff knowledge on credit issues 

 

 

Grant Activities & Participation Expectations

If selected for this funding, at least one staff person from your agency will participate in the following activities over the course of eight months (September 2021-April 2022) which include: 

 

1

Monthly calls with CBA Staff to support progress towards rent reporting implementation

2

Monthly training and cohort calls with other housing providers to learn about best practices and collectively problem solve to overcome rent reporting challenges

3

CBA’s six week Credit as an Asset course in Fall 2021 or Spring 2022. The Fall CAAA sessions will take place Wednesdays, Sept. 8th - Oct. 13th from 2:00 - 3:30 PM ET. The Spring series will be scheduled for sometime in March or April.

CAAA is an interactive virtual training that provides an overview of today’s credit reporting industry as well as tools, strategies and information to help practitioners and their organizations integrate credit building activities and products into their work and outcomes. You can learn more about CAAA at: https://cbatraininginstitute.org/credit-as-asset/

In addition to participation in training and TA calls, during the grant period the housing providers will be expected to: 

 

4

Select a rental data transmission option

There are many ways to report rental payment data to the credit bureaus. CBA will help housing providers understand their options and determine a best fit. CBA does not provide the technical support to transmit data to the credit bureaus but will help housing providers connect to entities that do. The housing provider will be responsible for executing an agreement with a provider and doing any relevant back end set up within a reasonable time period.

5

Enroll at least 20 residents in rent reporting by the end of the grant period

As part of the TA, CBA will work with housing provider staff to develop a resident engagement plan. The housing provider will be responsible for enacting the plan and actively enrolling residents on an ongoing basis. 

6

Report on outcomes

The housing provider will be required to report on outcomes related to the rent reporting program at six months and one year. Outcomes include, but aren’t limited to, number of residents enrolled, demographics of residents enrolled, summary of outreach efforts, comparison of portfolio performance, and credit scores as feasible. 

Interested? Here are some next steps:

CBA is hosting a series of information sessions about rent reporting and this funding opportunity. These sessions are meant to help housing providers self-assess if this opportunity is a good fit. You can register for one of the sessions here: 

INFO SESSION 1

7/28/21, 3:30pm ET 

INFO SESSION 2

8/2/21, 1pm ET  

INFO SESSION 3

8/10/21, 11:30am ET 

Ready to get started?

If you determine that your agency is a good fit, we invite you to fill out this application by 8/20/21.