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Article Archives: Oregon
Small Loans, Big Returns
Headquartered in Milwaukee, WtW makes its loans from 43 offices in 21 states: California, Delaware, Florida, Hawaii, Illinois, Indiana, Louisiana, Maryland, Michigan, Minnesota, Missouri, New York, North Carolina, Ohio, Oregon, Pennsylvania, South Dakota, Texas, Virginia, Washington, and Wisconsin.
WtW offices are located in social service agencies affiliated with the Alliance of Children and Families (ACF). ACF agencies screen and provide financial education to borrowers and service the loans. WtW local offices provide financial education to more than three persons for every individual who receives a loan. Investors in WtW include several national foundations, the Community Development Financial Institution Fund of the U.S. Treasury Department, local United Way offices, and financial institutions. Banks can be involved by investing in the national WtW loan fund, by referring to local WtW offices prospective borrowers who do not meet conventional credit criteria, by participating in local WtW loan committees, and by providing grants and in-kind donations to WtW.
[Community Developments Investments, Fall 2008]
REACH CDC in Portland, Oregon
The projects range from single-room-occupancy structures and multifamily properties to single-family housing. REACH develops and manages its projects throughout the city. Since its inception in 1986, REACH has added more than 1,000 units to the city's affordable housing stock. However, the organization is considering expanding its services into the surrounding areas.
In addition to its housing efforts, REACH runs a home-repair program called the Community Builders Program for homeowners who have low income or are disabled. To date, more than 3,500 repairs have been provided for more than 1,000 families. REACH also provides other services for its tenants including job training and an individual development account or IDA program for its teen residents called YouthSave, which provides financial literacy and matched savings accounts.
REACH's program support comes from public and private partnerships including loans, investments, such as equity equivalent investments, and grants from local government, financial institutions, and philanthropic organizations. The organization continues to entertain new partnership opportunities especially in construction and permanent financing for new developments.
For more information, visit the Web site.
RARE Helps Rural Communities
For more information, please visit RARE's Web site www.uoregon.edu/~rare/.