A Grant from Enterprise Community Partners Provides Opportunity for Renaissance Community Loan Fund to Partner with Hancock Resource Center on Veterans’ Programs
GULFPORT, Miss. – Renaissance Community Loan Fund officials announced this week that the nonprofit received a $37,000 grant from Enterprise Community Partners, Inc. The grant is made possible through the U.S. Department of Housing and Urban Development’s (HUD) Capacity Building for Community Development (Section 4) program. Renaissance, a federally certified Community Development Financial Institution, will use the funds in partnership with Hancock Resource Center (HRC) to continue programs focused on veterans and housing in South Mississippi.
Renaissance and HRC have a historically successful partnership built on similar missions of assisting low-income families and communities with homeownership. “Receiving grant funds from Enterprise allows Renaissance the opportunity to work on an issue that is a growing nationwide concern,” said Kimberly LaRosa, president and CEO of Renaissance. “With our great history with HRC and their extensive experience in working with veterans, there was no need to look any further than HRC as the perfect organization with which to partner.”
Hancock Resource Center, a nonprofit community development corporation in Hancock County, has a mission to stabilize families and strengthen the community by addressing obstacles and barriers to housing. “It is Hancock Resource Center’s honor and duty to serve those that have served in the US military. We are excited to partner with Renaissance Community Loan Fund to focus on much-needed housing for Veterans.”
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Gulfport, Miss. (September 19, 2017) – Renaissance Community Loan Fund has received $976,500 in financial assistance from the Community Development Financial Institution (CDFI) Fund’s CORE Grant Program. The award will allow Renaissance, a Mississippi-based non-profit CDFI, to continue improving low-income communities in Mississippi through personalized lending and financial counseling services to underserved residents.
This year’s funding award will focus on expanding the availability of Renaissance’s mortgage and business lending programs and services in the Northern counties in Mississippi. In addition, Renaissance leaders are committed to investing in and building equity in minority populations in the state that have higher levels of poverty and need.
“We are honored to receive this award from the CDFI Fund,” said Kimberly LaRosa, president of Renaissance Community Loan Fund. “The award allows us to continue providing financing programs and support that people need to become homeowners, build successful local businesses and create vibrant communities throughout our great state and build on our successful track record.
Of 434 eligible organizations who applied for financial assistance through the 2017 round of the CDFI Program, 265 were awarded funding that totaled more than $171.1 million. This was the largest pool of awardees in the history of the CDFI Fund.
Tupelo, Miss. (August 29, 2017) – Renaissance Community Loan Fund, a Mississippi-based non-profit Community Development Financial Institution (CDFI), announced the grand opening of a new location in North Mississippi, which will expand access to its lending programs and services for underserved residents in Mississippi.
What began as an organization geared to facilitate growth and rebuilding in Mississippi following the devastation of Hurricane Katrina in 2015, Renaissance continues to grow as a nationally recognized leader in community lending programs and financial counseling services. The addition of the Tupelo location is the next natural step in Renaissance’s strategy to ensure convenient access to the organizations programs and services across the state.
“The new location in Tupelo was strategically chosen due to the growing number of residents in North Mississippi in need of our services,” said Kimberly LaRosa, president and CEO of Renaissance. “Opening this location is a testament not only to Renaissance’s commitment to bring affordable lending services to the entire state, but it is a milestone in our commitment to increase economic and community development in Mississippi.”
Then new office, located at 431 West Main Street, Suite 300 in Tupelo, is fully staffed and ready to assist Tupelo and North Mississippi residents with their affordable mortgage and business lending needs. Tupelo native John-Michael Marlin leads the office as Community Outreach Coordinator. “I was raised in Tupelo and I’m personally invested in seeing this community prosper through the availability of Renaissance’s lending programs and financial counseling services,” said Marlin at the recent ribbon cutting and open house. “The residents of the community will receive the personalized services from someone who knows the area and understands their needs.”
GULFPORT, Miss. – Renaissance Community Loan Fund officials announced this week that the nonprofit, through a $2.4 million award from NeighborWorks America, will be administering a new down payment assistance program available throughout Mississippi.
The program, entitled Project Reinvest: Homeownership, is only available for a limited time. Individuals and families who currently do not own a home and have a household income of 100% or below the Area Median Income are eligible to participate in the program.
All potential applicants seeking to receive down payment assistance must first be pre-approved for a mortgage with Renaissance or an approved lending partner. The following are approved partner lenders in the program: Renaissance Community Loan Fund; Bancorp South; Community Bank; Charter Bank Mortgage; Gulf Coast Community Federal Credit Union; HOPE Credit Union; Keesler Federal Credit Union; and FBT Mortgage.
“We are excited to provide this opportunity to those individuals and families in Mississippi who are ready to take the step towards homeownership, but need assistance in providing the down payment portion of a mortgage,” said Kimberly LaRosa, president and CEO. “The program allows Renaissance another opportunity to continue its mission of creating affordable homeownership opportunities for residents and contributing to the economy in Mississippi.
Unlike Renaissance’s other mortgage programs, Project Reinvest: Homeownership funds are available for a limited time. Interested residents are encouraged to act now by calling or visiting one of the program’s approved lenders to get started. The most current list of lenders, along with detailed program requirements, is available at www.rclfms.com.
Gulfport, Miss. (March 22, 2017) – Gulf Coast Renaissance Corporation, a Gulfport-based Community Development Financial Institution (CDFI), proudly celebrates 10 years of community lending and services in Mississippi.
In 2007, a volunteer board, led by then Chairman Anthony Topazi, gathered a group of forward-thinking business and city leaders from the still-devastated region to discuss the mission of a newly formed nonprofit. A grant from the MS Development Authority enabled the organization to create multiple housing programs focused on assisting residents with affordable housing following Hurricane Katrina. Mortgage programs focused on the low-to-moderate income resident allowed Renaissance to help 2,000 families with the dream of homeownership. Homeownership was just the start for Renaissance’s impact through its programs.
Adapting and evolving to the ever-changing needs of its market for the past decade, Renaissance, led by president and CEO Kimberly LaRosa, continues to implement innovative programs and pursue funding and certifications that will further grow the organization. Renaissance became the only certified SBA microlender in Mississippi in 2015, and has provided over $8 million in business loans and grants throughout the state, which has led to the creation of over 600 jobs. And just this year Renaissance was recognized nationally as an awardee of a coveted New Markets Tax Credits allocation.
Much has changed since Renaissance began lending a decade ago. Originally focused on the lower six counties in Mississippi, Renaissance now offers its programs and services to residents of the entire state. In order to better serve the residents in the Northern counties and the Delta, Renaissance will open an office in downtown Tupelo this month.
Along with this geographic expansion, today Renaissance announces a new name and look for the growing organization. “The name Renaissance Community Loan Fund, which encompasses the CDFI designation for which the nonprofit is certified (a community loan fund), better represents to the public who we are and what we do. We are a different kind of lender, focused on community and economic development in the state,” said Kimberly LaRosa, President and CEO of Renaissance Community Loan Fund.
“We are extremely proud of the work we have accomplished and the successful community organization we have become over the past decade. We take a moment to reflect on the many people who have contributed to our success,” said LaRosa. “We are honored to have worked with such great staff, a dedicated volunteer Board of Directors, generous funders and many deeply dedicated partners who have given of their time and expertise to keep us moving forward.”
GULFPORT, Miss. – Renaissance Corporation officials announced this week that the nonprofit has been selected as an awardee for Project Reinvest: Homeownership, administered by NeighborWorks America. Renaissance was awarded $2.4 million in grant funds through a competitive process eligible only to Community Development Financial Institutions (CDFI’s) with a successful history of lending programs. Renaissance was the only organization awarded in Mississippi.
Renaissance, which was certified as a CDFI in 2010, will use the funds to continue its mission of creating affordable homeownership opportunities for residents in Mississippi.
“We are honored and excited to receive this grant from NeighborWorks America,” said Kimberly LaRosa, president and CEO. “The funds not only provide additional opportunities for Renaissance to assist low-to-moderate income residents with affordable homeownership, but also allow our organization to contribute to the economy and revitalize distressed communities throughout Mississippi.”
Applications and information for Renaissance’s mortgage and business lending programs can be found at www.msgcrc.com.