LHOME, a nonprofit Community Development Financial Institution (CDFI) serving underserved neighborhoods in Louisville, recently held its annual celebration and highlighted multiple success stories.
One of the success stories included Latonia Bland who is using a low-interest rate loan to start her new ice cream truck called BrainFreeze: Cones for a Cause to fund a math academy business she will start to help underserved children in the city.
"My goal is to do my part to help the students raise their test scores," said Ms. Bland.
In addition to funding business loans, LHOME also finances home repairs and energy efficiency as well as property tax payments. They also help refugees and immigrant get loans to become re-certified in the profession they practiced before moving to the United States, such as for a doctor, nurse, or lawyer.
"LHOME is to be commended for their efforts to provide business opportunities and credit to qualified individuals," said Deborah Knight, HUD Louisville Office Senior Management Analyst. "These opportunities are providing hope for a better future for those we mutually serve and for targeted economic development and affordable housing in these neighborhoods."
"The other really cool product we have is the Small Developer Product," said Amy Shir, President and CEO of LHOME. "So that people, for example, in West Louisville, they need up to $30,000 to rehab a vacant or abandoned property in their neighborhood, we'll get them the loan. They can rehab the property and create affordable housing for their neighbors."
LHOME is designed to help those who have never had access to capital get low-interest rate loans. For more information, visit the LHOME website.