Ledyard Bank recently supported the New Hampshire Community Loan by purchasing $20,000 in tax credits from the New Hampshire Community Development Finance Authority.

The Community Loan Fund will use the funds to offer families with low incomes downpayment and closing costs assistance funding for purchasing new, affordable, ENERGY STAR-certified manufactured homes. The energy-efficient manufactured homes are anticipated to cost well below the median cost of a home in New Hampshire — which was $514,000 in 2024 — and will also help homeowners save on utility bills. All homes will be for people with low incomes (80% AMI or below). 

“Ledyard Bank is proud to support the New Hampshire Community Loan Fund in its mission to expand access to safe, affordable housing,” said Jeff Marks, Senior Vice President & Chief Marketing Officer. “Our donation will help families with low incomes purchase energy-efficient manufactured homes — providing not just shelter, but long-term financial stability and healthier living environments. We believe that every family deserves the opportunity to thrive, and this partnership is a meaningful step toward building stronger, more resilient communities across New Hampshire.”

New Hampshire faces a severe and urgent affordable housing crisis which impacts employers and families across the state. A recent report highlighting the state’s housing needs found New Hampshire will need nearly 60,000 new housing units before 2030, 40,000 of which are homes needed for purchase. Today, manufactured housing remains the most affordable option for many working families and first-time buyers.

"Thanks to Ledyard Bank’s support, more families with low incomes will have the opportunity to buy safe, affordable manufactured homes in New Hampshire and realize their dream of homeownership,” said Katie McQuaid, Community Loan Fund Senior Vice President of Philanthropy & Community Engagement. 

CDFA tax credits allow businesses to fund qualifying economic or community development projects in exchange for a tax credit that can be applied against state business tax payments. The tax credits are administered by the New Hampshire CDFA. Any business with operations in New Hampshire that contributes to a CDFA tax credit project receives a New Hampshire state tax credit worth 75 percent of their contribution. The credit can be used over a period of five years to reduce the business’ state tax liability (business profits, business enterprise, or insurance premium taxes). The tax credit program allows New Hampshire businesses to use their state tax dollars to support local projects that they care about. CDFA reviews many project applications each year, and awards tax credits to those they determine are feasible and will make the biggest impact on economic development in the state. Visit nhcdfa.org for more information.

(Pictured: Mark Cheever, Vice President of Investor & Donor Relations, Bethany Tarbell, Director of Grants & Strategic Partnerships, Josephine Moran, President and CEO of Ledyard Bank, Kathi Paradis, Vice President of Lending, and Rob Capozzoli, Executive Vice President and Chief Digital Officer of Ledyard Bank.)