Endowment for Health Invests $1 Million in NH Community Loan Fund
Latest mission-related investment to support self-reliance for low- and moderate-income Granite Staters
CONCORD, N.H (Sept. 5, 2017) — The Endowment for Health, New Hampshire’s largest health foundation, recently invested $1 million in the New Hampshire Community Loan Fund.
It is the Endowment’s third mission-related investment in the Community Loan Fund, a nonprofit that connects people and families with the loans, training and education that allow them to access and maintain affordable homes, secure jobs and child care, and become financially independent.
Community Loan Fund President Juliana Eades said that, along with earning returns and creating opportunity in N.H.’s communities, “Investments like this one give us the flexibility to shape our loans to the needs of people and businesses so they can reach their goals and become self-reliant.”
Endowment President Yvonne Goldsberry added that its recent mission-related loan to the Community Loan Fund extends the foundation’s impact beyond its grantmaking. “The Community Loan Fund invests in determinants of health, such as good jobs and secure housing, that are not direct health care. If we don't pay attention to (them), we're never going to have a healthy total population.”
The investments also fill the Endowment’s financial needs. It relies on its various investments to earn strong returns, because that earned interest funds a wide array of health-policy research and leadership development activities.
“We’ve seen positive impact for investment returns with the Community Loan Fund while furthering our mission to improve the health of New Hampshire’s people,” said Goldsberry. “The Community Loan Fund provides a solid fixed income investment vehicle with 5% interest annually. It makes sound financial sense while supporting the goals of low- and moderate-income families and business.”
Investments in the Community Loan Fund pay fixed-rate interest and are loaned to, and on behalf of, people, families and communities statewide with low and moderate incomes. Its oldest and best-known program, ROC-NH, has helped residents of 123 manufactured-home (mobile home) parks cooperatively purchase and run them as resident-owned communities.