Financing

Closed Loans

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We bring capital where it’s needed most to support thriving communities. Here are some loan closing highlights from the past few years.

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Harbor Care Foundation

$500,000 bridge loan

Loan Type: Bridge

Year Closed: 2024

Focus Areas: Health, Human Services

Location: California

Harbor Care Foundation (HCF) is a nonprofit service provider for individuals in LA County experiencing homelessness post-hospitalization, also known as recuperative care. HCF helps patients heal, obtain benefits, and find permanent housing in a safe and nurturing residential care environment. Supported by Cedars-Sinai and the Hilton Foundation, this zero-interest bridge loan will help HCF expand its services to a new 23-bed facility in Lancaster, CA while waiting for late reimbursements from its CalAIM Community Supports contracts. CalAIM promises to make recuperative care more accessible, but as it represents a significant change for both health plans and recuperative care providers like HCF, payments to providers are often delayed. This financing will help HCF reach even more people across LA County in need during a critical time of transition.

Harvard Standish LLC

$3.8 million construction loan

Loan Type: Construction

Year Closed: 2025

Focus Areas: Housing

Location: Massachusetts

NFF is proud to support The Harvard Standish project in Boston’s Codman Square neighborhood of Dorchester by partnering with mission-driven lender, The Property Casualty Initiative (PCI) jointly providing a $5.8 million construction loan to the developers TLee Development and CoEverything. This exciting new homeownership initiative will create two buildings with 22 affordable housing units designed for local families earning between 80% and 100% of the area’s median income. The development reserves 1,200 square feet of commercial space for a locally owned business to boost community prosperity. The Net Zero Energy buildings will have 75% solar coverage and feature super insulation, high-performance windows, and energy recovery ventilation to ensure optimal thermal efficiency, designed to endure Boston’s winters. The Harvard Standish project is part of the Welcome Home, Boston initiative – a multi-phase city program dedicated to expanding affordable homeownership opportunities for LMI residents.

HOLA Recuperative Care

$500,000 bridge loan

Loan Type: Bridge

Year Closed: 2023

Focus Areas: Health, Human Services

Location: California

Established in 2017, HOLA Recuperative Care (HOLA) is a for-profit service provider for individuals in LA County facing homelessness post-hospitalization. HOLA plays a crucial role in supporting clients through their healing process by assisting them in securing benefits and facilitating the transition to permanent housing during a particularly vulnerable period. Supported by Cedars Sinai and the Hilton Foundation, this zero-interest bridge loan will help HOLA cover ongoing organizational and programmatic costs while waiting for late reimbursements from its CalAIM Community Supports contracts. CalAIM promises to make recuperative care more accessible, but as it represents a significant change for both health plans and recuperative care providers like HOLA, payments to providers are often delayed. This financing will help HOLA keep offering its services to people in need during a critical time of transition.

Hollywood Community Housing Corporation

$2 million predevelopment loan

Loan Type: Predevelopment

Year Closed: 2025

Focus Areas: Housing

Location: California

Founded in 1989, Hollywood Community Housing Corporation (HCHC) is among the oldest nonprofit affordable housing and service providers in Los Angeles County, currently operating 31 properties with 1,243 units of housing, supporting over 2,500 individuals. They fulfill a vital need in LA County by providing permanent supportive housing and affordable housing for low-income families, formerly unhoused individuals, seniors, and those with special needs. HCHC received a working capital loan from NFF in 2020 to support four projects in various stages of completion. A new $2 million loan from NFF will support HCHC in its pipeline of seven housing projects as of fall 2024, including a project in Santa Monica that consists of two sites. This capital will also help HCHC provide a broader array of services to residents, extending successful programs to all who live in their communities.

Holos Communities

$500,000 working capital loan

Loan Type: Working Capital

Year Closed: 2023

Focus Areas: Housing

Location: California

Holos Communities (formerly Clifford Beers Housing, Inc.) builds spaces through a holistic lens as it works to end houselessness, combat climate change, and reverse racial inequity across southern California. They operate over 500 apartments, with 249 under development, and these spaces provide homes, services, and jobs to individuals, families, and businesses while helping to strengthen neighborhoods and local economies. Supported by the Hilton Foundation, this loan will provide Holos Communities with the working capital it needs to continue the development of ongoing projects, including completing the construction of Isla Intersections, a 54-unit housing complex in South LA long delayed by the COVID-19 pandemic. When complete in late 2023, this community will maintain 53 permanent supportive housing units, including 10 dedicated for veterans.

Homework Central

$100,000 working capital loan

Loan Type: Working Capital

Year Closed: 2022

Focus Areas: Education

Location: California

The mission of Homework Central (HWC) is to provide students and families in the San Mateo-Foster City School District with the tools they need to foster academic success. HWC partners with local schools and offers tutoring services, literacy programs, and family dinners – primarily to Latine English-language learners. Financed through NFF’s Bay Area Racial Equity Fund, which provides zero-interest loans with flexible repayment plans to BIPOC-led nonprofits in the San Francisco Bay Area, this loan will support the salaries of new staff that will expand the summer learning program and make the second-grade literacy program permanent. With this financing, Homework Central can continue investing in the success of even more students across San Mateo County well into the future.

Horizon Recuperative Care

$500,000 bridge loan

Loan Type: Bridge

Year Closed: 2023

Focus Areas: Health, Human Services

Location: California

Horizon Recuperative Care (Horizon) is a for-profit service provider that offers recuperative care for individuals in LA County experiencing homelessness post-hospitalization. Supported by Cedars Sinai and the Hilton Foundation, this zero-interest bridge loan will help Horizon expand its services to a new 78-bed facility in East Los Angeles, CA while waiting for late reimbursements from its CalAIM Community Supports contracts. CalAIM promises to make recuperative care more accessible, but as it represents a significant change for both health plans and recuperative care providers like Horizon, payments to providers are often delayed. This financing will help Horizon reach even more people across LA County in need during a critical time of transition.

Hudson Companies

$2 million predevelopment loan

Loan Type: Predevelopment

Year Closed: 2025

Focus Areas: Housing

Location: New York

Since its founding in 1986, The Hudson Companies (Hudson) has grown into a leading developer of housing across all market segments in the New York Metropolitan Area. With more than 6,400 residential units completed and over 5,000 in the pipeline, Hudson’s work reflects a lasting commitment to creating homes that meet the diverse needs of New Yorkers. In addition to residential development, Hudson has built over 250,000 square feet of commercial space, including 100 neighborhood-serving businesses that support economic wealth and well-being. The firm has consistently implemented forward-thinking green building practices and achieved several notable milestones over the years, including pioneering energy-efficient design, large-scale solar installations, and early adoption of LEED certification standards in residential developments. NFF is contributing $2 million to a NYCEEC-led predevelopment loan to support the Gowanus Green building, a project that embodies Hudson’s focus on creating inclusive, sustainable neighborhoods that prioritize long-term community well-being. The 300-unit, all-electric, 100% affordable residence is part of the larger Gowanus Green development — a multi-phase, mixed-use project with 955 affordable homes in the Gowanus neighborhood of Brooklyn. The broader plan also includes 28,000 square feet of retail and community space, an 80,000-square-foot site for a new public school, and a 1.5-acre public park. Thoughtfully built to fit into the heart of the community, this project combines affordable housing with advanced green building design features and vibrant green spaces to foster welcoming and supportive communities for all. This project utilizes funds awarded to NFF through NY Green Bank’s Community Decarbonization Fund, which expands access to financing for emissions-reducing projects that benefit underserved communities in New York State.

Impact Public Schools (IPS)

$1.6 million participation in a $16.4 million renovation loan

Loan Type: Renovation

Year Closed: 2022

Focus Areas: Charter Schools, Education

Location: Washington, D.C.

Impact Public Schools (IPS) is a network of three charter schools serving the racially, ethnically, linguistically, and socioeconomically diverse regions close to Seattle and Tacoma, Washington.This loan will support significant renovations to IPS’ fourth campus, the newest addition to its network. The project will result in 24 new classrooms, an administrative space, commons, a kitchen, a parking lot, and a playground. When the new school opens in the fall of 2023, this expansion will grow the school’s total capacity by nearly 600 students – allowing IPS to offer high-quality education to more students across Washington.

Impact Services

$1.5 million facilities loan

Loan Type: Facility

Year Closed: 2021

Focus Areas: Housing

Location: Philadelphia

Impact Services’ mission is to empower people in need to attain the hope, motivation, and skills necessary to reach their fullest human potential and highest level of personal and family self-sufficiency. The Philadelphia neighborhoods where Impact Services works have been highly impacted by the overlapping traumas of multi-generational poverty, opioid addiction and the heroin trade, and a high level of violence. NFF’s loan will support a phased redevelopment of Impact Services’ historic campus, which will be financed with a mix of Low-Income Housing Tax Credits, Historic Tax Credits, New Markets Tax Credits, grants, and loans. The resulting campus will include an existing 57-bed shelter for veterans who are experiencing homelessness, a multi-purpose community gym facility, 47 units of affordable housing, program space for Impact Services, and several floors of commercial space for office or community purposes. With this redevelopment, Impact Services will be able to expand its programs to even more Philadelphia residents, giving many people the support they need to overcome obstacles and achieve their aspirations.

Innovative Housing Opportunities

$2 million predevelopment loan

Loan Type: Predevelopment

Year Closed: 2025

Focus Areas: Housing

Location: California

Innovative Housing Opportunities (IHO) was formed in 1976 as Irvine Housing Opportunities to advocate for affordable housing in low- and moderate-income communities in Irvine, California. Today, IHO owns and operates ten properties across California, totaling over 800 units. These buildings provide stable housing for more than 1,200 people annually, including low-income individuals and families, veterans, seniors, youth, people with special needs, and those experiencing homelessness. With $2 million in working capital from NFF’s Accelerating Permanent Supportive Housing Fund – designed to support LA nonprofit developers to accelerate the creation of affordable supportive housing units – this pre-development financing will help IHO respond more effectively to the urgent need for stable homes among hundreds of Angelenos.

Jazz Night School and LEMS Bookstore

$2.8 million acquisition loan

Loan Type: Acquisition

Year Closed: 2024

Focus Areas: Arts & Culture

Location: Washington, D.C.

Seattle-based nonprofit Jazz Night School (JNS) uplifts their community by creating an exceptional, supportive environment where people of all musical abilities can come together to learn, perform, and enjoy jazz. A $2.8 million acquisition loan from NFF – with additional financing from Rainier Valley Community Development Fund, Conlin Columbia, and 5001 Rainier investors – will secure permanent sites for Jazz Night Schools and LEMS Bookstore, along with over 100 units of affordable housing. This investment will provide the spaces needed for both organizations to deliver vital community programs for many more generations.

Judeo Christian Outreach Center

$2.5 million participation in a $5 million construction loan led by Local Initiatives Support Corporation

Loan Type: Construction

Year Closed: 2024

Focus Areas: Human Services

Location: Virginia

Judeo Christian Outreach Center (JCOC) fights hunger and homelessness by serving over 100,000 individuals each year through its hunger relief and housing support programs. Since its founding in 1986 by faith-based organizations in Virginia Beach, JCOC has expanded its impact by partnering with more than 100 volunteer groups, churches, synagogues, and civic organizations. NFF’s $2.5 million loan, as part of a $5 million financing package led by LISC, will fund the construction and development costs for JCOC’s 3H Housing project – creating 38 units of permanent supportive housing and office space for the organization. Through affordable housing and a range of supportive services – including childcare, career counseling, and healthcare – JCOC will continue fostering well-being for both its residents and the surrounding LMI community.

Kensington Corridor Trust

$250,000 working capital loan

Loan Type: Working Capital

Year Closed: 2022

Focus Areas: Community-Owned Assets

Location: Philadelphia

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. 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. Financed through NFF’s CARE Fund, 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.

Khesed Wellness

$125,000 working capital loan

Loan Type: Working Capital

Year Closed: 2022

Focus Areas: Human Services

Location: Colorado, Illinois, Michigan, Texas

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. 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.

Kids First Health Care

$250,000 facility loan

Loan Type: Facility

Year Closed: 2021

Focus Areas: Health

Location: Colorado

Kids First Health Care (KFHC) partners with schools and other community organizations to bring primary and preventive health services to youth ages 0-21. Most of the youth KFCH serves are enrolled in Medicaid or Child Health Plan Plus and nearly 20 percent are uninsured. After COVID-19 mandated school closures across the country, KFHC shut down its school-based sites. For the past year and a half, they have been seeing patients solely out of their headquarters – a small facility with just two exam rooms. As schools reopen and KFHC once again begins seeing patients while they're in school, they will use this loan from our Metro Denver Loan Fund to expand into a new location with six exam rooms – vastly expanding the amount of youth they'll be able to serve. In partnership with a dental clinic at the same site, they hope to evolve this building into a hub for all of their community's healthcare needs.

KIPP Philadelphia Public Schools

$3 million participation in a $15.5 million construction loan

Loan Type: Construction

Year Closed: 2021

Focus Areas: Charter Schools, Education, NMTC

Location: Philadelphia

KIPP Philadelphia Public Schools is one of 28 regions of KIPP’s national, non-profit network of college preparatory, public charter schools educating elementary, middle, and high school students. Since 2003, KIPP Philadelphia has built a track record of preparing students in educationally underserved communities for success through college and in life. Made in partnership with BlueHub Capital, Cinnaire, National Trust Community Investment Corporation, Philadelphia Industrial Development Corporation, Reinvestment Fund, and Truist Community Capital, this loan will allow KIPP Philadelphia to move their elementary school to a property in West Philadelphia that has remained vacant since 2013. MIS Capital will renovate the entire property, preserving the historic façade and brickwork while making necessary updates to infrastructure like pipes and ventilation and completely redesigning recreational facilities. This development is part of a larger expansion that will allow the KIPP Philadelphia network to nearly double in size, serving an estimated 4,480 students by 2030.

LA Family Housing Builds

$2.5 million predevelopment loan increased to $3 million

Loan Type: Predevelopment

Year Closed: 2025

Focus Areas: Housing

Location: California

LA Family Housing (LAFH) expands access to affordable, dignified housing by developing permanent homes, bridge housing, and emergency shelters for low-income families, older adults, people with special needs, and individuals transitioning out of homelessness. To more efficiently manage its growing development pipeline, LAFH spun off its housing development arm in 2023 as LAFH Builds (LAFHB). In June 2025, NFF renewed its loan and increased the amount by $500,000 to a total of $3 million, providing additional flexible financing. Since receiving its original $2.5 million loan from NFF’s Accelerating Permanent Supportive Housing Fund in 2021, LAFHB has supported 13 projects, totaling 832 permanent supportive housing and low-income units. The added $500,000 from NFF will help advance critical predevelopment work to further the strategic pursuit of LAFHB's new affordable and supportive housing projects.

Little Tokyo Service Center

$4 million participation in an approximately $12 million CDFI Source Loan with Genesis LA as the lead lender

Loan Type: Construction

Year Closed: 2024

Focus Areas: Community-Owned Assets

Location: California

Founded in 1979 by Japanese American activists, Little Tokyo Service Center (LTSC) provides social services and community development services in Los Angeles’ Little Tokyo Historic District and neighboring Asian American and Pacific Islander communities. LTSC serves about 10,000 clients – 90% of whom identify as low income – in Southern California annually through counseling, case management, senior services, and more. In partnership with the City of Los Angeles and the Go for Broke National Education Center, a nonprofit organization that educates people about Japanese-American veterans who served in World War II, LTSC will develop a vacant lot into a mixed-use development including over 200 affordable housing units and 45,000 square feet of commercial space. NFF’s loan participation will help finance the commercial portion of the project, which will preserve several legacy businesses in the surrounding Little Tokyo community and create a permanent headquarters and exhibit space for the GFB Center. Additionally, the new building will provide office space for LTSC’s growing supportive services department.

Marcy Lab School

$150,000 facilities loan

Loan Type: Facility

Year Closed: 2022

Focus Areas: Education

Location: New York

With rising tuition costs and low graduation rates, traditional college options leave many young people – especially those from communities of color – with no degree, no path into a meaningful career, yet a huge burden of debt. Marcy Lab School responds to this by offering a free, one-year software engineering fellowship to students who might not be able to afford a four-year college. Graduates learn how to code, contribute to and lead teams, and remain confident and composed under stress. This loan will support Marcy Lab School's expansion into a larger facility, allowing it to offer its programs to 20 more students, a 33% increase.