New Loan Closings: Churches United for Fair Housing, Glowmundo, Hamilton-Madison House, Jovenes, Khesed Wellness

$500,000 acquisition loan (December 2022)

Churches United for Fair Housing (CUFFH) uses community organizing, youth engagement, and social services to create inclusive communities in North Brooklyn. CUFFH believes that housing is a human right, that housing justice is racial justice, and that all New Yorkers regardless of their income level, race or immigration status deserve to live in a home that is safe, affordable, and permanent. CUFFH partners with churches, nonprofits, schools, and activist groups to reach thousands of community members across New York City – and they serve over 6,000 families annually through weekly workshops, youth organizing, social services, job training, legal support, and more.

Until now, CUFFH has not had a sufficiently large permanent home from which they can run and expand their programs and house their operations. However, CUFFH identified a building that it can use to operate its full array of programs early last year, and they are now ready to submit their deposit. New York State has committed to allocating grant funding to CUFFH to purchase the building, but the organization would like to purchase the building before that grant funding will become available. In the meantime, NFF’s bridge loan will help the organization pay the deposit to the seller of the contract while it continues to perform due diligence of the site and building. This brings them one step closer to acquiring a permanent home for their work to build thriving North Brooklyn communities.

Learn more about how CUFFH centers community, fights displacement, and achieves shared liberation.

$250,000 working capital loan (October 2022)

By forming partnerships with parents and educators in the Aurora Public School District, Glowmundo builds resilience and self-awareness among youth in Colorado. As part of its trauma-informed care model, the organization works with students, school staff, and parents over a three-year period to support the development of each individual’s resilience. In 2022, Glowmundo served 1,300 children, parents, teachers, and caregivers through self-esteem classes, teacher trainings, parent programs, and more – and it anticipates serving at least 3,000 clients in 2023.

With the expansion of its in-school programs and the addition of external programs, Glowmundo has more than tripled in size over the past year. However, since schools reimburse Glowmundo 60-90 days after it runs its programs, the organization needs to have cash on hand to maintain its operations while it awaits payment from the schools it serves. Offered through the Metro Denver Nonprofit Loan Fund, which supports the recovery and sustainability of the Metro Denver nonprofit ecosystem, NFF’s loan will provide Glowmundo with the working capital needed to keep running until payments arrive. By resolving this cash flow issue, the organization will be able to build a stronger infrastructure and grow programs that fuel positive change in Metro Denver classrooms, families, and schools.

$250,000 working capital loan (December 2022)

The mission of Hamilton-Madison House (HMH) is to support residents of New York City's Chinatown and Two Bridges neighborhoods through senior centers, childcare, youth development programs, community advocacy, and a garden cemetery. One of the first of New York City's historic settlement houses, HMH has advocated for immigrant communities in the Lower East Side for over 100 years. By prioritizing offering these critical services in the native languages of the diverse populations it serves, HMH responds directly to the needs of more than 5,000 people annually in all phases of life.

Hamilton-Madison House depends on contracts with government agencies for a significant portion of its funding. Government payments to nonprofits are often delayed, a trend exacerbated by the COVID-19 pandemic. Financed through NFF’s CARE Fund, which offers 0% interest loans to community-centered nonprofits led by people of color, this loan will make sure that HMH has consistent access to working capital for its essential programs while it waits for government funding to arrive. With support from this loan, HMH plans to expand its services. This loan will also help HMH set up a direct deposit program for its employees, ensuring that they are paid smoothly for their essential work – assuring the well-being of thousands of people in Chinatown, the Lower East Side, and beyond.

$500,000 line of credit (November 2022)

Jovenes was founded in 1990 by Fr. Richard Estrada, a priest with deep roots in the Chicano Rights Movement and his Los Angeles community, to feed and shelter young people who had migrated from Central America to the United States. Today, the organization’s mission is to help unhoused young people across East LA secure permanent housing and become active members of their communities. As part of its integrated approach to addressing East LA's youth homelessness crisis, Jovenes offers life skills training, healthcare services, employment support, and more. The organization served approximately 500 clients in 2021, and that number continues to grow. In the past four years, Jovenes has expanded to work directly with unhoused college students throughout Los Angeles County.

Jovenes depends on government contracts for most of its funding. However, these contracts are paid after the nonprofit runs its programs and are frequently delayed, making it hard for Jovenes to keep sufficient cash on hand. Supported by the Hilton Foundation, this zero-interest loan will help ease cash flow pressures related to government reimbursement timing and allow Jovenes to expand its programs so that even more young people in East LA can succeed and thrive.

$125,000 working capital loan (November 2022)

Khesed Wellness (Khesed)’s mission is to advance equity in mental healthcare by making wellness services affordable for underinsured and uninsured individuals across Colorado, Texas, Michigan, and Illinois. Khesed offers below-market-rate therapy sessions in office buildings, private practice locations, religious organizations, and other places with available space during the week. Khesed offers pro bono therapy to people who can't afford the reduced rate, focusing on hospitality workers, the re-entry population, queer and transgender individuals, youth, helping professionals, and more. In addition to therapy, the nonprofit offers a substance use recovery program, support groups, yoga classes, and life coaching. Every year, Khesed assists more than 700 clients through its programs – many of whom might not otherwise be able to access this critical mental healthcare.

In response to the rapidly growing need for mental health services caused by the COVID-19 pandemic, Khesed has grown 300% since 2020. Financed through the Metro Denver Nonprofit Loan Fund, which was created to support the recovery and sustainability of the Metro Denver nonprofit ecosystem, this loan will help Khesed hire 15 therapists in the Denver Metro Area, including five therapists for its BIPOC Pro Bono and Training Program. With this investment, Khesed can expand quality, affordable mental healthcare to Denver residents that need it.

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