$450,000 FCLF financing
Refinance existing loan
7 units of affordable supportive housing
"Holy Ground was very pleased to be introduced to FCLF by the bank holding our original mortgage. Our banker was aware that a traditional bank could not be competitive in terms of flexibility of financing and highly recommended that we meet with FCLF, who quickly evaluated our needs and worked with us to make the financing affordable for our nonprofit organization. We are very grateful for this new relationship." – Lonnie Martens, President
Holy Ground PBC was established in 2008 to serve homeless, pregnant or parenting young women and their children – one of the most underserved populations in Palm Beach County. Holy Ground PBC is an independent, faith-based, nondenominational organization.
The mission of Holy Ground PBC is to shelter and mentor homeless, pregnant or parenting young women and their children living in Palm Beach County who are willing to make positive changes in their lives. Their long-term program utilizes adult female mentors and an independent living model. Their core program is “Home and Hope”. Since 2011, they have been providing young families with a “home” (individual apartments) through the generosity of foundations and private donors and “hope” through their comprehensive wraparound services. In 2022, they served 24 moms and 37 children.
With a loan from Florida Community Loan Fund, Holy Ground PBC is refinancing an existing loan on a property the organization purchased in 2021 and opened in 2022 after renovations. The property is an apartment building located in Lake Park, Florida, which includes 7 units of affordable housing that will be provided to young women involved in Holy Ground PBC’s program, who will pay rent on a sliding scale (no more than 30% of their income). The apartments are occupied by women with children, and Holy Ground PBC provides daycare and other services to help the tenants.
FCLF’s refinancing of an existing loan will result in monthly cash flow savings for Holy Ground PBC, which allows the organization to continue their work providing shelter and other services to those in need.