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Loan Fund Success Stories
"It was great to talk to people who understand your organization and your needs. We will continue to partner with NCALL for many more efforts."
Delmarva Community Services (DCS) stepped up to the plate six years ago when the local community action agency failed.
They applied to the state to take over their services. DCS inherited the building of the previous agency in the process.
The building was in bad condition and it was located in an unsafe location.
It was also not large enough to house their current services along with the new ones they would take on as the local community action agency.
"It was great to talk to people who understand your organization and your needs," said Santo Grande, the organization’s Executive Director.
Fiscal Director Cathy Frey agreed, "We support our mission instead of the bottom line.
It was great to work with NCALL because they get that. I have thoroughly enjoyed the relationship."
NCALL’s loan kept the construction and renovation moving forward.
"The project came to fruition faster and cost us so much less," Cathy said.
According to Santo, "We are here to serve the individual. We will continue to partner with NCALL for many more efforts."
NCALL was pleased to follow its mission and strategic plan of deploying loans throughout Delmarva, including the Maryland and Virginia Eastern Shore. The Loan Fund looks forward to assisting Delmarva Community Services in the future.
"NCALL has been tremendous"
According to the 2010 census, 11.3% of Delawares population does not have any health insurance coverage. Rural areas often have a higher percentage, sometimes by as much as an additional 12%. People who are medically uninsured or underinsured face a number of obstacles to both their financial and medical well being. This includes higher out-of-pocket costs for care, poorer health outcomes and a greater likelihood that easily treatable ailments will go untreated and become serious medical problems.
According to La Red Chief Medical Officer Dr. Fabricio Alarcon, MD, The new facility will improve patient flow and its a much better environment for our patients. We really believe that this new facility will help to improve the quality of life in Sussex County. Many of our patients would not be able to afford private practice office visits. They would not receive the prenatal care or other services that they need and would end up clogging up the emergency rooms.
This building has been a dream of ours since 2009, explained Kevin Loftus, La Reds Director of Development and Communications. We tried to get a federal grant to build the center, but it didnt work out. We werent sure what to do next. NCALL was one of our partners in that effort. They contacted us with an idea. If we could raise some of the necessary funding, they would put together a financing package for the remaining amount. Thats what happened. We raised $1.2 million and NCALLs Loan Fund put together a financing package for $3.5 million.
The Loan Fund found funding partners for the $3.5 million construction loan in Artisans Bank, Deutsche Bank Trust Company Delaware and CDFI Partners for the Common Good. Permanent financing for the center will be with USDA, Rural Development. This will be the third loan that NCALL has done in Georgetown in tandem with RD permanent financing.
NCALL has been tremendous, said Kevin. They were very supportive in explaining the process and they educated our entire Board on the financing package. NCALL has been an active participant in the project which really helps to make it easy on us.
"They've gained control over their housing future."
In manufactured home parks, the residents normally pay ground rent to a landlord.
Even though they own their home, the residents pay monthly fees that never diminish
and the land could be sold out from under their homes at any time.
That is the way its always been, until now.
"Closing on this property was a dream come true, not just for me but for all of my neighbors at Minquadale," said Shaw. "We owe a debt of thanks to everyone who has made this possible. We had a great deal of support, and were grateful."
With manufactured homes making up about 15% of the housing stock in Delaware, the purchase of Minquadale Village by its residents is significant to more than just the proud new community owners.
"Manufactured housing is the largest block of affordable housing in the state that does not require a government subsidy, said Ed Speraw, President of the Delaware Manufactured Home Owners Association. Annual land rent increases can cause evictions which can create a burden on the State and other providers. Minquadale homes will now remain affordable.
According to Keith Timko of READS, who provided project technical assistance, "By taking ownership of the property themselves, the Minquadale homeowners not only have guaranteed the future of their community, they've begun to build equity in their property, and they've gained control over their housing future.
"Working with NCALL was our best option."
According to the State of Delaware, there are 4,000 substandard
housing units in Sussex County.
Sussex County Habitat for Humanity has been helping to turn the tide
by building affordable homes since 1991.
They target families with less than 60% of area median income.
Each adult in their partner families has to put in 250 hours of their
own sweat equity and in return they own a new, affordable home
at 0% interest.
The organization receives about 70 applications for homes each year.
They started out building one home per year, all run by volunteers.
In 2004 they hired Kevin Gilmore, Executive Director, as their first
Now that they have a staff of five and are producing eight homes per
year with many volunteers, they needed a suitable office.
That is where NCALLs Loan Fund came in to help.
We are currently using part of our Restore retail space in Georgetown for our office, says Mr. Gilmore. Not only is it encroaching on our retail space, the building is 100 years old, and not energy efficient. Today we are wearing our coats to work. Our office is a hub of activity for our volunteers and partner families, as well as our staff.
We did not want the fact that we were acquiring an office to take away at all from our mission. If we had to raise the additional funds to build the office up front, that would mean less money would be going to the families we are trying to help. Working with NCALL was our best option. We couldnt beat the loan terms and the staff was very supportive and understanding of our mission. All of this process was very new to us. The NCALL staff was very knowledgeable and this enabled the process to not distract from building homes.
Groundbreaking for the new office was held in April 2009 and
scheduled to open November 2009.
"Our relationship with NCALL is instrumental in that success."
The NCALL Loan Fund is proud to be a part of New Hope Place in Wilmington's Southbridge community.
Interfaith Community Housing of Delaware (Interfaith) is the developer of this 15 townhome community in
Southbridge, the city's first designated "Hope Zone".
Phill Raffan, Housing Development Manager for Interfaith shares, "We are pleased to be a part of the revitalization of the Southbridge community. Our relationship with NCALL is instrumental in that success."
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