When people think about supportive housing, they often think about an affordable home paired with services, and the residents whose lives are transformed by having both.
Less visible, but equally important, is the financing that helps make those developments possible.
That’s why CSH is pleased to share news that S&P Global Ratings has assigned the organization an A+ credit rating with a stable outlook. According to S&P, the rating reflects CSH’s financial strength, disciplined lending practices, experienced leadership, and strong loan portfolio performance developed over nearly 35 years of lending activity. As a national nonprofit lender and Community Development Financial Institution (CDFI), CSH provides financing that helps affordable and supportive housing developments move forward.
“Every supportive housing development begins with people coming together around a shared goal: creating homes connected with services where people can thrive,” said Deborah De Santis, president and CEO of CSH. “The communities we serve need more housing, more investment, and more partnership. This rating helps strengthen our ability to bring all three together in support of affordable and supportive housing.”
Housing Starts with Capital
Before construction can begin, projects often need financing to secure property, complete planning and design work, conduct environmental reviews, and cover other early-stage development costs.
These are some of the most challenging financing needs to meet. Traditional lenders may view this phase as higher risk, and many affordable and supportive housing developments cannot move forward without partners willing to invest early.
CSH helps fill that gap by providing early-stage financing that helps affordable and supportive housing developments move from concept to construction. As of Dec. 31, 2025, CSH managed a $261 million loan portfolio, comprising 116 loans across 16 states.
Independent Validation of a Proven Model
A credit rating is an independent assessment of an organization’s financial health and ability to meet its commitments.
For CSH, the rating provides outside validation of a lending model that has helped communities expand supportive housing while carefully managing risk.
S&P highlighted several factors behind the rating, including CSH’s lending practices, leadership, financial performance, and management of its loan portfolio.
One measure of that performance is loan quality. Despite focusing on early-stage housing finance, CSH’s loan portfolio has maintained cumulative net losses of just 0.44% throughout the organization’s history.
For partners across the supportive housing ecosystem, that track record matters because it demonstrates that advancing housing solutions while managing risk responsibly can go hand in hand.
What It Means for the Field
While S&P assigned this rating to CSH, it also reflects the strength of a supportive housing finance model that pairs responsible lending with measurable community impact. The recognition reinforces that affordable and supportive housing investments can achieve both social impact and financial stability.
This distinction matters for funders, housing developers, and policymakers who help shape the future of affordable and supportive housing. It demonstrates that supportive housing can deliver measurable community impact while maintaining strong financial performance.
An independent rating can help attract additional capital from financial institutions, philanthropic organizations, and impact investors. That, in turn, can help increase the resources available to finance affordable and supportive housing developments in communities across the country.
At a time of housing shortages, rising development costs, and growing demand for supportive services, reliable access to capital remains essential.
The stronger the investment available to support housing development, the greater the opportunity to create affordable homes and expand supportive housing nationwide.
Continuing the Work Ahead
Quality supportive housing succeeds because of the collaboration among developers, service providers, public agencies, health care partners, investors, and community organizations.
CSH remains committed to supporting that work through financing, technical assistance, policy leadership, and partnership.
This rating recognizes the strength of CSH’s work. More importantly, it helps position the organization to attract additional capital, expand financing opportunities, and support more affordable and supportive housing developments in communities across the country.
Image: Ribbon cutting ceremony at Dean’s Place in March 2026, opening a 57-unit supportive housing residence in South Los Angeles helping people with mental illness achieve stability. Photo courtesy of Dean’s Place.
