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|Community Loan Fund Receives $1 Million Investment|
|Published Thursday, September 7, 2017|
ROC-NH helps residents of manufactured-home parks cooperatively purchase and run them as resident-owned communities. Photo: NH Community Loan Fund
The Endowment for Health, NH’s largest health foundation, recently invested $1 million in the NH Community Loan Fund. This is the Endowment’s third mission-related investment in the Community Loan Fund, a nonprofit that connects people and families with loans, training and education to access and maintain affordable homes, secure jobs and child care, and become financially independent.
Juliana Eades, president of the Community Loan Fund, says that along with earning returns and creating opportunity in NH’s communities, “Investments like this one give us the flexibility to shape our loans to the needs of people and businesses so they can reach their goals and become self-reliant.”
Yvonne Goldsberry, president of the Endowment, adds that the loan extends the foundation’s impact beyond offering grants. “The Community Loan Fund invests in determinants of health, such as good jobs and secure housing, that are not direct health care," says Goldsberry. "If we don't pay attention to [them], we're never going to have a healthy total population.”
The investments also fill the Endowment’s financial needs. The foundation relies on its various investments to earn strong returns, as it uses earned interest to fund an array of health-policy research and leadership development activities.
“We’ve seen positive impact for investment returns with the Community Loan Fund while furthering our mission to improve the health of New Hampshire’s people,” says Goldsberry. “The Community Loan Fund provides a solid fixed income investment vehicle with 5% interest annually. It makes sound financial sense while supporting the goals of low- and moderate-income families and business.”
Investments in the Community Loan Fund pay fixed-rate interest and are loaned to, and on behalf of, people, families and communities statewide with low and moderate incomes. Its oldest and best-known program, ROC-NH, has helped residents of 123 manufactured-home (mobile home) parks cooperatively purchase and run them as resident-owned communities.
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