Are you our next impact story?
Explore a few of our impact stories to see the difference our CDFI consulting and grant services have made to financial institutions and communities across the US.
Bank of St. Francisville
St. Francisville, LA – UNLOC HELOC
UNLOC HELOC. A new Home Equity line of credit purposefully designed to enable customers to achieve their financial goals by utilizing the equity in their home to unlock their potential. Reduced costs, more favorable terms and rate reduction incentives with completion of home ownership/financial education class prior to closing enables homeowners to utilize their homes to unlock their potential and tap into previously inaccessible opportunities. Customers can borrow up to 100% of the appraised value of their family residence to start or grow small businesses, to lower their interest rate and pay off credit card debt, to pay off student loans, pay for their children’s’ education, make improvements to their home and more. The structure of the UNLOC HELOC allows consumers to better utilize their financial resources to enhance their family’s quality of life.
Merchants and Planters Bank
Raymond, MS – IMPACT Mortgage
This new product meets one of the greatest needs of consumers by making home ownership available to residents that might not otherwise qualify for mainstream mortgage financing. With its more flexible underwriting criteria and financial literacy component, the IMPACT Mortgage is designed to enable more low-income residents to become homeowners for the first time. Home ownership has many benefits, including providing families with a place that is their own and the opportunity to build wealth over time through equity. Home ownership is also one of the most effective means of eradicating multi-generational poverty.
The Jefferson Bank
Greenville, MS – Special Purpose Credit Program
Special Purpose Credit Program for Historically Underserved Famers and Ranchers:(HUFR). Studies show that minorities are plagued by various barriers that limit their progress in the farming business. This special purpose credit program is designed to increase the likelihood that minority and female farmers who have been historically underserved will receive credit for land acquisition, crop production and/or equipment financing. Preferred rates and terms will help these disadvantaged farmers to lower their borrowing costs, improve cash flow and decrease barriers to financial access; an educational component provides technical assistance and financial literacy activities. Farming can offer economic opportunities for historically underserved populations, particularly in rural areas.
Guaranty Bank & Trust Company
Delhi, LA – Hurry Home Program
This product is designed to provide financing for the acquisition of and/or improvements to existing stock of 1-4 family and multi-family affordable housing units which are in substandard condition, with the intent to improve and re-sell or rent the units to low-to-moderate income families to provide a greater inventory of affordable housing options to area residents. Increased loan to value ratios, debt service ratios and reduced credit scores and fees enable more residents to qualify. This new product will not only increase the inventory of affordable housing units, it will help rehabilitate vacant, neglected properties, removing eyesores and increasing safety and property values throughout the community.
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