New Loan Closing: HousingPlus
Safe, supportive housing for women in New York City
$600,000 bridge loan
HousingPlus provides community-based housing and comprehensive services to support women working to overcome poverty, addiction, and trauma and help them achieve their aspirations. Using a trauma-informed and strength-based approach, HousingPlus offers safe housing where women can access mental health therapy, substance abuse counseling, education referrals, employment support, and other supportive services. They then work with each woman to develop personalized goals toward achieving housing stability, economic self-sufficiency, and independent living. Currently, the organization houses approximately 176 families and single women across New York City.
Offered through the Trinity Church Grantee Loan Fund, this no-interest loan will bridge an 18-month delay in government contracts and help HousingPlus with seasonal cash flow needs. The COVID-19 pandemic led HousingPlus to implement enhanced safety protocols and expanded technology access for staff, increasing the organization's 2021 expenses; at the same time, they had to cancel fundraising events, shrinking their revenue. This loan will ensure that HousingPlus can overcome these challenges and continue to provide essential supportive housing – at a time when housing insecurity is on the rise and its services are desperately needed.
Learn more about NFF's loan products on the financing page of our website.