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Apex Trader Funding (ATF) - News

NFF and Trinity Church Invest $1.5 Million to Help Faith Organizations Plan Affordable Housing and Community Development Projects

New York, NY, July 10, 2024 (GLOBE NEWSWIRE) -- Nonprofit Finance Fund (NFF) and Trinity Church have partnered to launch a pilot program serving faith organizations as they pursue community development projects. The Faith in Our Communities Fund will allow NFF to provide flexible pre-development loans, backed by Trinity's credit guarantee, to faith organizations often unable to access mainstream sources of capital. "Faith-based organizations hold deep connections and commitments in our neighborhoods, and understand local needs and opportunities," said Aisha Benson, President and CEO of NFF. "We can supply the capital and technical expertise to support these organizations and bolster community ownership of assets." The Faith in Our Communities Fund is offered through NFF's Building Equitable Assets for Communities and Nonprofits (BEACoN) initiative and Trinity's Mission Real Estate Development initiative. As faith-based nonprofits across the country consider how to manage their real estate to pursue mission-aligned work, the Fund will provide financing for capital improvements that advance development planning, pre-development costs, and expert counsel. "This program will provide more runway to religious organizations to plan strategically for the use of their property without succumbing to the pressure to make short-term decisions with long-term assets," said ...