New Loan Closings: ACHIEVEability, Philadelphia Police Athletic League, Kensington Corridor Trust, New Kensington CDC

May 18, 2022

ACHIEVEability: Building thriving communities in West Philadelphia

$250,000 working capital loan (April 2022)

ACHIEVEability provides comprehensive social services to low-income, single-parent, and unhoused families in West Philadelphia. The organization works to permanently break the generational cycle of poverty by offering higher education, affordable housing, and other supportive services designed to address the barriers that prevent people from achieving their aspirations. ACHIEVEability’s impact is clear – through their services, the organization serves nearly 3,000 residents each year.  

ACHIEVEability plans to establish an in-house fundraising department that could sustainably bring in funding for the organization and accelerate its growth. Financed through NFF’s CARE Fund, which offers 0% interest loans to community-centered nonprofits led by people of color, this loan will provide ACHIEVEability with the money needed to expand their staff and bridge cash flow issues caused by delayed payments from government-funded contracts. With support from this loan, ACHIEVEability can build out a sustainable fundraising strategy that allows it to continue supporting West Philadelphia residents with essential services. 

Kensington Corridor Trust: Partnering with neighbors on Philadelphia’s Kensington Avenue

$250,000 working capital loan (April 2022)

The Kensington Corridor Trust (KCT) is a Philadelphia-based organization grounded in the belief that neighbors have the power to affect change in their own neighborhood. Through local partnerships and community programming, the KCT’s goal is to keep assets and wealth in the control of the community. By reactivating real estate, fostering local entrepreneurship, and reinvesting capital into the neighborhood, the KCT’s mission is to build local wealth among residents and include community members in a values-aligned approach to development that protects the communities that make up the neighborhood today.  

One way that the KCT does this is by purchasing and operating commercial and mixed-use properties on Kensington Avenue on behalf of the neighborhood. These spaces are then developed and reactivated for community ownership and use. Financed through NFF’s CARE Fund, which offers 0% interest loans to community-centered nonprofits led by and serving people of color, this loan will finance the acquisition of two properties into the trust – an important step towards the organization’s long-term goal of restoring control of Kensington’s buildings to Kensington residents. As they grow, KCT will be able to provide more spaces that foster economic equity and thriving communities. 

New Kensington CDC: Revitalizing neighborhood spaces across New Kensington

$250,000 working capital loan (April 2022)

New Kensington Community Development Corporation (NKCDC) uses real estate development, community engagement, and direct services to meet the housing needs of Philadelphia’s Kensington, Port Richmond, and Fishtown residents. NKCDC aims to revitalize these communities by acquiring and developing high-quality affordable housing for lower-income residents and creating public green spaces that all residents can enjoy. By offering free homebuyer courses, small business consulting, and more, NKCDC provides resources to community members most at risk of being displaced. NKCDC’s executive director, Dr. Bill McKinney, is from the Kensington neighborhood and is committed to addressing displacement and the impacts of the opioid epidemic on residents. 

As it grows, NKCDC has identified a commercial corridor of 19 properties on Kensington Avenue to activate and revitalize as a part of its North of Lehigh Revitalization Plan. Offered through NFF’s CARE Fund, which offers 0% interest loans to community-centered nonprofits led by people of color, this loan will finance renovations for three existing corridor properties. With support from this loan, NKCDC will be able to activate more community spaces and provide critical health services to even more residents.    

Philadelphia Police Athletic League: Caring for youth across Philadelphia

$250,000 bridge loan (April 2022)

The mission of Philadelphia Police Athletic League (Philly PAL) is to help reduce crime in Philadelphia neighborhoods by providing free after-school and summer classes for thousands of youth ages 6-18. A civilian-led, community-based organization, Philly PAL offers sports and educational programming that some children might not have access to otherwise. They do this by working with Philadelphia police officers and civilians to facilitate sports and other youth programs across 17 centers. Philly PAL has documented a strong correlation between youth involvement in these programs and reduced youth involvement with the criminal justice system. Philly Pal promotes healthy, thriving communities across Philadelphia by encouraging involvement in local community programs. 

Offered through NFF’s zero-interest CARE Fund, this financing will help the organization maintain a healthy cash flow and support the ongoing maintenance of neighborhood PAL centers. With support from this loan, Philly PAL will have the working capital it needs to invest in the community centers and programs that create opportunities for thousands of young people in Philadelphia each year. As they grow, Philly PAL will be able to cultivate more environments for youth to play and thrive. 

Learn more about NFF’s loan products on the financing page of our website.

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