Helping CDFI Loan Funds Answer the Call to Rebuild in Texas and Florida
Complimentary Aeris Rating Reports now available on Texas and Florida CDFIs
Although the combined damage in Texas and Florida cause by the recent hurricanes is expected to total as much as $200 billion, few doubt that these areas will soon be on a path to recovery. However, for the lower-income people and communities that struggle even during good times, the road to recovery is far less certain.
CDFI loan funds have proven to be critical helping hands after recent natural disasters. For example, New Jersey Community Capital lent $1.8 million through a special low-interest loan program for small businesses affected by Hurricane Sandy, creating or preserving 225 jobs; and HOPE Enterprise Corporation provided mortgage financing to help people like Mae Beth Marshall whose homes were damaged or destroyed by Katrina. It’s no surprise that loan funds in Texas and Florida are already mobilizing to help.
To support the recovery effort, through the end of 2017 we are offering complimentary Aeris Rating Reports to foundations or other investors who are considering making a loan or grant to loan funds in the affected areas. Aeris-rated CDFIs that are based the path of Hurricanes Harvey and Irma are LiftFund, PeopleFund, and Florida Community Loan Fund. LiftFund and PeopleFund are raising funds to originate new loans, as well as to support restructuring of existing loans to affected businesses in Texas. Florida Community Loan Fund is providing flexible emergency financing to community development organizations in Florida, and will develop customized solutions to address persistent problems resulting from Hurricane Irma.
If you are interested in obtaining a complimentary Aeris Rating Report, please fill out the brief information form below, and someone from our team will contact you with instructions for accessing the report.
President & CEO, Aeris