Loan Closings: Coalition for Responsible Community Development, Services for the Underserved and Bronx Pro Group, University Settlement Society of New York
Coalition for Responsible Community Development: Advancing workforce development and affordable housing in South LA
$1.25 million predevelopment loan (January 2025), $3 million working capital loan (January 2025)
Coalition for Responsible Community Development (CRCD) began in 2005 in the Vernon-Central neighborhood of South Los Angeles with one contract: cleaning up graffiti vandalism. Since then, CRCD has expanded its services for residents in South LA, starting up programs in youth and adult workforce development, housing and supportive services, and small business services.
CRCD will use the $1.25 million loan to finance predevelopment costs for current affordable housing projects in its pipeline and support new projects advancing into the construction phase. A new $3 million line of credit from NFF will provide support with addressing working capital needs caused by a significant increase in government contracts and delays in government contract reimbursements. This financing increases CRCD's capacity to sustain and expand transformative community development efforts, creating more pathways for South LA residents to secure stable housing they deserve and gain access to services that will support their pursuit of better economic outcomes.
See CRCD featured in our new video, “Uncovering the Full Cost: Los Angeles Youth Workforce Development Programs”, which analyzes the full costs of youth workforce development organizations in Los Angeles.
Watch “The Art of Affordable Housing”, our video interview with Alejandro Martinez, President of CRCD’S real estate arm.
Services for the Underserved and Bronx Pro Group: Partnering for supportive housing in The Bronx
$6.7 million participation in a $13.2 million acquisition loan led by Corporation for Supportive Housing (October 2024)
Founded in 1978, Services for the Underserved (S:US) is a nonprofit housing and social services provider that has been supporting vulnerable populations for over four decades. S:US helps over 35,000 clients annually through behavioral health services, affordable housing, veteran services, and urban farms across more than 80 locations in New York City. Through the years, S:US has expanded its mission to address the needs of people living with HIV/AIDS, survivors of domestic violence, and veterans, ensuring access to stable housing and the support needed to thrive in the community.
Bronx Pro Group (BPG) is a women-owned, community-focused development firm committed to creating affordable and sustainable housing that leads to thriving communities. Since 1988, BPG has created over 2,500 affordable housing units, as well as commercial and community spaces, totaling $600 million. BPG invests in the long-term well-being of its residents by offering services designed to prevent homelessness and enhance the quality of life within their communities.
To address the growing need for affordable housing in New York, S:US and BPG have partnered on a $13.2 million project in the Mount Hope neighborhood of The Bronx. With Corporation for Supportive Housing as the lead lender, NFF’s $6.7 million loan will finance the predevelopment and acquisition costs of a new 187-unit building. Of these, 64 units will be dedicated to supportive housing for formerly unhoused older adults with lived experience of mental illness and substance use. With this investment, S:US and BPG will be able to continue delivering stable housing and essential services that foster economic wealth and well-being for even more New Yorkers.
University Settlement Society of New York: Strengthening healthy communities in New York
$2 million working capital loan (November 2024)
Founded in 1886 as the first settlement house in the United States, University Settlement Society of New York (USS) is a human services nonprofit that serves over 40,000 clients annually. With a dedicated team of over 700 staff members, USS delivers mental wellness, housing, arts, and English language programs across 30 locations in Lower Manhattan and Brooklyn. A $2 million loan from NFF will allow USS to navigate daily operations despite the unpredictability of government funding schedules, a common challenge faced by many nonprofit organizations. With this financing, USS will be able to continue providing essential services that foster stability for the thousands of individuals and families it serves.
Learn more about NFF’s loan products on the financing page of our website.