Partnership Delivers More Than Financing
— The Life Link in Santa Fe rents and owns multiple buildings where it delivers a multitude of services. When management wanted to create synergy around some of those services by housing them under one roof, the nonprofit organization turned to another nonprofit organization: Homewise.
Homewise partnered with The Life Link through the process of financing the purchase of its property, and with the help of a Homewise commercial loan and additional grant funding from another source, The Life Link acquired a 2,600-square-foot property.
Homewise is a community development financial institution (CDFI) that has been helping people achieve their homeownership goals since 1986. In 2021, the nonprofit lender initiated a commercial mortgage loan program to provide affordable capital to small businesses and nonprofit organizations interested in owning the buildings they rent. Homewise offers commercial property loans of up to $1 million to eligible businesses in designated tracts.