New Loan Closings: Beech Interplex, New York State Tenants & Neighbors, Paving the Way Foundation, Think of Us

June 28, 2022

Beech Interplex: Revitalizing a cultural landmark in Northern Philadelphia

$250,000 acquisition loan (April 2022)

Since 1990, Beech Interplex (Beech) has provided a variety of services and programs for residents of Cecil B. Moore Community, a historically disinvested 26-square block area in North Central Philadelphia. A part of Black-led, mission-driven community development firm Beech Companies, Beech Interplex advocates for stronger neighborhoods through community and commercial development. Beech believes in taking a holistic, collaborative approach to neighborhood revitalization that encourages the active participation of residents in order to improve the quality of life in their communities. Through job placement, education, and rehabilitation services, Beech’s work of promoting homeownership and rental opportunities in the Cecil B. Moore community spans three decades and has helped improve living conditions for at least 60,000 Northern Philadelphia residents.  

In 1944, renowned African American printmaker Dox Thrash purchased a three-story brick structure located at 2340 Cecil B. Moore Avenue. Known today as Dox Thrash House, it holds rich historic and cultural significance in the community. Financed through NFF’s zero-interest CARE Fund, this loan will provide a portion of the funding needed to acquire the Dox Thrash House and purchase a vacant lot adjacent to Beech Interplex’s current Dox Thrash development – investments that will ensure this historic building remains an anchor in the community for years to come. 

New York State Tenants & Neighbors: Advocating for tenants’ rights across New York

$100,000 bridge loan (May 2022)

The mission of New York State Tenants and Neighbors (Tenants & Neighbors) is to organize a unified coalition of tenant organizations that educates tenants, builds community support, and strengthens tenant rights across New York State. With gentrification rapidly displacing residents in low- and moderate-income communities across the nation, the need for grassroots tenant organizing grows more important every day. By providing education and leadership development sessions, Tenants & Neighbors equips tenants with the resources necessary to advocate for affordable housing. Throughout its nearly 50-year history, Tenants & Neighbors has worked to ensure that its clients have access to the support they need to thrive. In 2021 Tenants & Neighbors served nearly 2,000 clients, 97% of whom qualified as low-income.

Tenants & Neighbors depends on contracts with government agencies for a portion of its funding. Government payments to nonprofits are often delayed; however, the COVID-19 pandemic exacerbated these delays. Supported by the Trinity Church Wall Street Grantee Loan Fund, this loan will make sure that Tenants & Neighbors has consistent access to working capital for its essential programs while it waits for that funding to arrive. Smoothing over this cash flow issue will help the organization maintain and grow programs that help tenants build economically just neighborhoods and futures. 

Paving the Way Foundation: Community care in Southern California’s Antelope Valley

$250,000 bridge loan (October 2021)

The mission of Paving the Way Foundation (PTW) is to help people from all walks of life be as healthy and active as possible by providing social services that teach practical life skills for independence. Since 2006, PTW has met the immediate needs of people across Southern California’s Antelope Valley – particularly those impacted by houselessness, substance use, and the justice system. PTW served approximately 600 individuals in 2021 through job readiness training, parenting classes, a free community clothing closet, and a community re-entry program for formerly incarcerated people – 90% of whom qualified as low-income. 

While PTW has multiple funding sources, it is experiencing delays in payments of government contracts. And because the organization has grown exponentially in such a short amount of time – more than doubling its budget in the last year alone – it needs more capital to match this rapid 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 PTW with the money needed to bridge cash flow issues caused by delayed government contract payments. With more sustained, reliable funding, PTW can continue investing in critical programs for even more Antelope Valley residents – programs that support their growth and well-being. 

Think of Us: Shifting power to place youth in foster care at the center

$800,000 line of credit (May 2022)

A non-profit research and development lab, Think of Us (TOU) is reimagining a system that considers the needs of people served by the child welfare system and positions young people as primary stakeholders in order to shift the way that things are being done from the inside out. TOU’s founder and executive director, Sixto Cancel, whose personal lived experience in foster care drives his passion for this work. Think of Us strategically engages projects across tech, research, and government to create solutions that bridge the gap between policy, practice, and people. In 2021 TOU served approximately 15,800 youth in foster care by providing housing, financial assistance, and other community resources to help meet their immediate needs beyond traditional case management services.  

TOU has seen an increase in demand for its programs and services and would like to expand in response. However, it is experiencing a delay in payments on its contract with California State. Supported in part by the Hilton Foundation, this loan from NFF will help alleviate cash flow pressures related to government reimbursement timing so that TOU can focus more of its efforts on expanding its programs and connecting youth in foster care to resources that help them gain control over their futures. 

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

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