Faith Fund

Faith Fund is a community development financial institution (CDFI) providing loans and technical assistance to support the development of affordable housing, microenterprises and small businesses, and community facilities in the Baltimore region's underserved markets The Faith Fund received a $200,000 grant from the U.S. Department of the Treasury in 2003 and raised the rest of its start-up money from religious groups, local foundations, and individuals. As of July 2005, it had lending capital of $3.5 million and had loaned approximately $3.1 million to not-for-profit organizations. Faith Fund loans have helped nonprofits rehabilitate homes for sale or rent at prices that working people can afford. Other Faith Fund loans have preserved transitional housing for immigrant families, stopped the foreclosure and conversion of 74 affordable rentals in west Baltimore, helped to build senior housing and arts and recreational centers, and financed job-training programs for disadvantaged youth.

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