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The Loan Fund’s programs fall into three general areas:
The purposes of our affordable housing programs are to preserve and create affordable housing throughout the state by supporting a variety of housing initiatives.
Our oldest initiative, the Manufactured Housing Park Program, helps residents of manufactured housing parks (historically called mobile home parks or trailer parks) form cooperatives and purchase the land under their homes. In 2003, the Loan Fund launched two new programs — the Cooperative Home Loan Program to provide home financing to residents in cooperative parks, and New Production, to develop new cooperative parks.
Two other affordable housing programs are the Community
Housing Program, which assists nonprofit organizations develop rental housing; and
the Home of Your Own
Program, which
helps people with developmental disabilities buy their
own homes.
The Individual Development
Accounts program falls under both the Affordable Housing
umbrella and the Economic Opportunity umbrella, as it helps
low-income participants save for buying homes, supporting
businesses and education.
Community facilities, including child care centers, soup kitchens and legal services offices, provide essential services to low- and moderate- income individuals and families throughout New Hampshire. However, they often cannot obtain financing from traditional sources to renovate real estate, reduce overhead by buying a facility or expand services to meet community needs. Both the Child Care Facilities Program and the Non-Profit Facilities Program provide loans and technical assistance to help these programs meet their community missions.
The Loan Fund is committed to creating markets and opportunities for people to find and retain good jobs, or create their own jobs by starting businesses. Better jobs can mean improved working conditions, better benefits, higher wages, security, advancement opportunities, and flexible hours.
MicroCredit-NH works with self-employed people and business owners with up to five employees, known as Microenterprises. It delivers access to loans, business training and networking opportunities to develop strong businesses and increase incomes, and is the only statewide provider of both loans and business training.
The Direct Care Workforce Initiative seeks to improve the quality of jobs for nursing home and home care workers through advocacy and through Quality Care Partners, Inc., a company tthat trains and employs licensed nursing assistants in private homes and facilities.
Vested for Growth, one the newest programs at the Loan Fund, is a new source of capital for growing businesses in which owners share decision making, profits and strategic planning with employees.
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