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Annual Report 2024
Guided by Our Values
More than just ideals, our values inspire us to take action in pursuit of improving communities and opening up opportunities for our neighbors to pursue their goals.
More than just ideals, our values inspire us to take action in pursuit of improving communities and opening up opportunities for our neighbors to pursue their goals.
In order to ensure affordable housing and fair lending practices, we engage in policy and advocacy work that supports preserving and expanding opportunities for homeownership in N.H. and beyond.
Preserving affordable homeownership through the establishment of resident-owned communities (ROCs) is possible, in part, through laws like the 60-day notice requirement in NH RSA 205. This law requires manufactured-home park owners to formally notify residents of their intention to sell and to negotiate in good faith with tenants who wish to purchase the park cooperatively.
This law and other protective policies are often threatened by individuals and organizations who are interested in buying parks to maximize them for profit, even if that means making the parks unaffordable and unlivable for residents with lower incomes. Our policy team monitors threats to resident ownership and works with policymakers to prevent other predatory practices designed to exploit vulnerable people.
We were active in promoting the passage of HB 1361, a bipartisan bill to increase manufactured-housing opportunities and address N.H.’s housing crisis. It clarifies how local zoning ordinances address manufactured housing and requires municipalities to allow “reasonable and realistic” opportunities for developing and expanding manufactured-home parks.
Prior to its passage, New Hampshire Community Loan Fund President and CEO Steve Saltzman spoke in its favor, “The social and health benefits of homeownership are well known,” he said. “At a time when owning a manufactured home is far less expensive than renting a comparably sized apartment, we should be doing everything we can to make that option available.”
We work collaboratively with other organizations and policymakers on zoning reform that encourages housing density across the state as well as the placement of more manufactured homes and the expansion of manufactured-home parks.
Our mortgage borrowers defy convention. Half have no credit score, and the other half averages a score of 620. Still, they are incredibly successful in repaying their loans. We are actively sharing our data and successful lending practices with government supported entities Fannie Mae and Freddie Mac, hopeful they will create programs to encourage more traditional lenders to treat manufactured homes like valuable assets.
We advocate for government programs that connect cost-saving energy and weatherization programs with residents with low-incomes and the organizations that support them.
Expanding our commitment to engage at both a State and Federal level, Abby joined us in the Spring to begin laying the groundwork for our Policy and Advocacy efforts. Her roots in N.H. and her deep experience in Washington made her a natural fit for the team.
Funcionários do Fundo de Empréstimo Comunitário 4/23/2024Throughout 2024 we worked with partner organizations to help people, businesses, and nonprofits keep their energy costs in check — and there’s much more to come.
We believe that every person in the state should be able to fully participate in the economy and society. And our mission is to provide systematically excluded people and communities with the financial, human, and civic resources they need to be economically secure.
Helping people, businesses, and nonprofits reduce their energy costs, in the homes, buildings, and communities we’ve helped them buy, develop, and preserve, is a natural fit for us. Our ongoing presence in the energy space means that more people have the opportunity to take advantage of these modern solutions.
As energy costs continue to rise, they will disproportionately affect systematically excluded people with low and moderate incomes. By connecting borrowers with a range of innovative energy solutions, we’re addressing energy challenges in several areas.
• Weatherization and Energy Efficiency
• Fuel Switching
• Renewable Energy
I have long admired the work of the Community Loan Fund, an organization I first got to know when I worked on economic development through my role in state government over a decade ago. In true New Hampshire fashion, an introduction by a mutual friend led to my having a conversation with the founder about the work of the Community Loan Fund and the skills needed on the board, and I subsequently joined the board in 2016. I have been thrilled to be a part of the Community Loan Fund’s growth, continued success, and countless “mission wins” in the years since then.
As I took on the role of Board Chair at the start of 2024, I was thrilled to help develop and shepherd the new five-year Strategic Plan alongside staff. Steve, his leadership team, and the rest of the staff bring energy and focus to the development of this organization that is thrilling to witness. We have continued to refine our ability to do what we do better and better every day, and we’ve also found ways to expand our impact and help more of our neighbors. The Community Loan Fund fills a truly unique niche in communities across New Hampshire and beyond, and the staff and the board take the responsibility of doing as much good as possible while also being responsible stewards of our investors’ and donors’ dollars incredibly seriously.
I look forward to helping more of our neighbors fully participate in our economy, buy homes, build businesses, and work to make life better for everyone in our state. Our organization is more scalable and dynamic than we ever have been in our history – and I can’t wait to be a part of our growth over the next few years as we launch new and impactful products, improve our existing services, and contribute further to growth and prosperity in our communities. We couldn’t do what we do without the support of our donors, investors, and other stakeholders, and we appreciate all that you do. I hope you will join us on the exciting journey ahead!
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