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Delivering flexible capital and technical assistance to real estate developers and small businesses in New Jersey

Credit-lending Gap

There is a credit-lending gap. There is simply not enough funding available to applicants who are underserved by banks, but viable for CDFI-style underwriting.

Independent industry and program analyses indicate that New Jersey faces sustained unmet demand for mission-aligned lending capital. Estimated CDFI-addressable capital demand is commonly measured in the hundreds of millions to multiple billions of dollars annually when combining affordable housing, small business credit gaps, neighborhood redevelopment, and community facility needs.

  • Who falls into the Gap?

  • Small developers, early-stage neighborhood real estate projects, and small businesses below typical institutional loan thresholds.

  • These borrowers often require smaller loan amounts, predevelopment or rehabilitation financing, and hands-on technical assistance.

  • Transactions are commonly declined elsewhere due to size, technical complexity, or borrower experience gaps.

  • Balance Funding’s program design specifically supports this segment.

Our Part in the Solution

Nonprofit lending inherently values the impact of a loan. We are here to enable opportunities for New Jersey’s local businesses, so that they and their community can grow. All profit is put back into the loan pool to create more opportunities for other businesses.

  • Municipal and Community Alignment

    Because eligible loan purposes include predevelopment, rehabilitation, infill, and small mixed-use projects, Balance Funding’s credit box is inherently compatible with municipal redevelopment and small business support strategies. This supports capital partnerships with municipalities and community stakeholders while remaining within approved credit standards.

  • Technical Assistance

    Borrowers participate in pre-closing and post-closing advisory support, project or business coaching, and performance reporting.

    This structure positions technical assistance as part of the credit risk management system by strengthening borrower capacity, improving execution outcomes, and supporting early problem detection.

  • Recycling the Funds

    Our loan capital allows municipal and county funds to be recycled in New Jersey’s local communities. This adds to the length of the impact of each dollar invested.

    Our goal is to match government funds with private capital on a 3:1 basis.

  • Local Impact

    We understand the concept of local and the value of local relationships with real people. We are focused on allocating our capital in support of New Jersey based projects and entrepreneurs who strive to create wealth for themselves and the communities they serve. With catalytic capital, we lend to people who create local jobs.

Our Loan Program

$50,000 to $3M for real estate
$25,000 to $150,000 for small business — institutionalize small-transaction lending.

Eligible uses and asset types include small-scale residential and mixed-use properties, infill projects, predevelopment costs, and rehabilitation financing, aligning credit eligibility directly with neighborhood-scale development needs.

  • Loan Products

    Our loan terms are flexible. Because we are a nonprofit loan fund we are able to structure our financing based on your specific financing requirements. We source our loan capital from municipalities, donor advised funds, corporations, foundations and other socially focused capital providers which allows us to offer loan terms that are more flexible than conventional banks or credit unions.

  • Technical Assistance

    Technical assistance is embedded as a required loan covenant. Borrowers must participate in pre-closing and post-closing advisory support, project or business coaching, and performance reporting.

  • Evaluation

    Balance Funding will consider the two core needs for qualification:

    Financially sound ability to repay the loan

    Impact of the loan on the surrounding community

  • Funding & Repayment Terms

    With approval, we will review all of the details of your loan. We strive to keep interest rates as low as possible.

Leadership

Together, the co‑founders bring complementary expertise in finance, community development lending, public‑private partnerships, real estate development, affordable housing and small business lending and technical assistance delivery — enabling Balance Funding to operate as a turnkey municipal and county level capital and borrower support partner rather than only a lending platform.

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    Darryl Godfrey

    CO-FOUNDER AND PRESIDENT/CEO

    Darryl is a seasoned finance and business development executive with more than 30 years of leadership experience driving economic growth, strategic partnerships, organizational transformation and operational excellence across public, private and non-profit sectors.

    He has worked with urban municipalities to create financing and redevelopment tools that created over $500 million in real estate development projects and small business financing to enhance downtown Main Street in urban areas throughout New Jersey.

    He is skilled in strategic planning, fundraising, financial management, public-private partnerships and cross-sector collaboration with government agencies, corporate leaders, educational institutions and community organizations.

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    William Crawley

    Bill Crawley is a real estate executive with more than two decades of experience in affordable housing, urban redevelopment, and community development finance. He has led complex public-private transactions, structured innovative financing solutions, and overseen the full lifecycle of real estate development projects across New Jersey and New York.

    Prior to co-founding Balance Funding, Bill served as Senior Director of Operations at New Jersey Community Capital, where he helped oversee more than $350 million in community development investments and supported the expansion of lending platforms in partnership with financial institutions. He also served as Vice President of Development at the New York City Housing Authority, where he closed over $700 million in refinancing transactions and advanced mixed-income housing initiatives.

    Earlier in his career, Bill was Chief Executive Officer of the Newark Downtown Core Redevelopment Corporation, where he led the structuring and execution of over $500 million in public-private investments supporting the development of the Prudential Center and surrounding mixed-use district.

    Bill currently serves as Principal of Polaris American Real Estate, where he focuses on small-scale multifamily development and financing strategies that leverage CDFIs, public programs, and private capital.

    He holds a Master of Science in Real Estate from Johns Hopkins University, a Juris Doctor from Boston University School of Law, and a Bachelor of Arts from Morehouse College. He is a Certified Commercial Investment Member (CCIM) and a retired member of the New Jersey Bar.

Frequently Asked Questions

  • A loan fund provides patient capital to small business owners and real estate developers who are focused on achieving financial returns and community impact. Balance Funding provides capital for borrowers in the New Jersey communities we love and serve.

  • A CDFI is a financial intermediary that raises capital from investors and then deploys that capital into community development enterprises that are primarily located in low-to moderate income communities but not exclusively. Balance Funding is mission-driven financial institution that uses capital to create economic opportunity in underserved communities.

  • We are not a CDFI yet. We are preparing for CDFI certification after we establish a lending track record. The United States Department of the Treasury certifies CDFI institutions. We will submit our application after we have built a lending track record and service to our borrowers and the communities in which they are located throughout the State of New Jersey.

  • We are an emerging CDFI and our 501-c-3 certticfation is pending before the Internal RevenueService. We are a New Jersey based non-profit organization organized under the laws of the State of New Jersey. We have staff and a board of directors.

  • First you should send us a note to ask for a loan consultation. Our team will meet with you to review your project and/or business. We may ask for preliminary financial information such as your project budget and/or a summary of your business plan for your business. Then we can discuss how we may be able to provide financing.

Contact Us

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