The numbers behind 2016's success stories
NH Community Loan Fund President Juliana Eades looks back on the numbers behind a 2016 filled with highlights.
NH Community Loan Fund President Juliana Eades looks back on a year filled with highlights.
Friends who attended our annual celebration in November heard stories from a farmer and a child care director who were able to exercise their opportunities because we provided capital and a little extra “know how.”
If you haven’t yet, please read our annual report to get a full picture of what we helped people accomplish in the past year. Here are a few highlights to go with those stories:
Kelly Cross, owner of the Whole Child Center in Tilton, described how a consolidation loan from the Community Loan Fund enabled her to give raises to her staff.
- Our funding helped create or preserve 423 affordable homes, from Groveton to Danville.
Homeowners in six investor-owned manufactured-home parks used our loans and technical assistance to convert them to resident-owned communities (ROCs). There are now 120 ROCs in New Hampshire, containing more than 6,700 homes that working people and families, as well as retirees, can afford.
- We reached a milestone when we made our 1,000th Welcome Home Loan. Fittingly, the borrower had seen a “Own Here Cheaper Than Renting” sign outside of a ROC and went to see what it was all about.
In nearly every N.H. community, owning a manufactured home is less costly than renting an apartment. Our mortgage borrowers who previously rented save, on average, $852 a year in housing costs—the equivalent of giving themselves a $70 monthly raise. Our average mortgage is $42,000 for homes in ROCs, and $72,000 for homes on the owner’s land.
- We also helped create or preserve 112 child care spaces and 227 jobs, spread across manufacturing, tech, and farm/food businesses.
- In all, the Community Loan Fund provided $20 million in new financing to projects in 72 towns in all 10 counties. We’re truly statewide.
Hope to see you next year.