Community Investment Corporation of the Carolinas

The Financial Industry Responding to Community Lending

CICCAR is a regional lending consortium offering permanent debt financing to support the development of affordable multifamily housing in Georgia, North Carolina, South Carolina, Tennessee, Virginia and West Virginia.

Established in 1990 as a wholly-owned subsidiary of the North Carolina Bankers Association, CICCAR is one of the largest affordable housing loan consortium of its kind in the nation. With support from nearly 100 member banks, we have approved over $325 million in loans to date – creating almost 20,000 rental units for working families, seniors and people with disabilities.

Our lending program is an excellent example of how public and private partnerships can be forged to achieve a common goal of providing safe, decent and affordable housing.


In December of 1990, in an effort to address the shortage of affordable housing in North Carolina, the North Carolina Bankers Association formed a new lending consortium – Community Investment Corporation of North Carolina, or “CICNC” for short. The goal was simple: leverage the financial capacity of banks to support the development of apartment communities that are affordable to low-to moderate-income working families, seniors and the disabled.

In 2007, recognizing the ever-present need for affordable housing in adjacent states, CICNC began offering loans to support projects in South Carolina and Virginia and subsequently changed its name to CICCAR. Beginning in 2012, CICCAR further expanded its lending programs to attract new members and support affordable multifamily housing developments in Georgia, Tennessee and West Virginia.

Achievements to Date

  • Approximately 100 member financial institutions
  • Over $325 million in approved loans, support nearly 375 apartment communities
  • 20,000 units of affordable housing created or preserved

Since accepting the first application in March of 1991, CICCAR has operated as a remarkable and mutually beneficial partnership of banks, developers, public sector agencies and community development organizations – resulting in the creation of approximately 20,000 units of work force housing affordable to individuals and families earning 60% or less of area median income. Properties are located in urban as well as rural areas. In addition to providing quality housing, many of our developments offer computer learning centers, after school programs for children, senior exercise centers, and job training opportunities.

Contact Us

Physical Address: 3601 Haworth Drive Raleigh, NC 27609-7208


Mailing Address: PO Box 19999 Raleigh, NC 27619-9916

Phone: 919-781-7979 Toll Free: 800-662-7044 Fax: 919-781-2155 Twitter: @CICCarolinas