FCLF FINANCING $175,000 (2 loans)
Line of Credit for new construction or purchase/rehab and sale of affordable homes
12 single family homes
4 temporary jobs
In St. Petersburg, Florida, as in many areas throughout the state, there is a need for mentoring and leadership programs in low-income communities. In 2009, Pathway 2 Success was founded with a commitment to provide housing, rehabilitation, and guidance to youth, veterans, ex-offenders, abuse victims, and those with disabilities. In addition to Florida, the organization has worked in North and South Carolina, Arizona, and Indiana.
Pathway 2 Success (P2S) focuses on the Midtown community south of downtown St. Petersburg, in an area that has seen recent economic redevelopment efforts. Through its outreach and work with disadvantaged populations, P2S aims to build community leaders who will then serve as positive role models to their peers. Programs include working with children and teens to graduate from high school and resist negative peer pressure, as well as offering financial education, rehab services, and counseling to veterans, abuse victims, and ex-offenders. The goal is for all of these individuals to prosper and become model citizens.
P2S' programs are funded in part through partnerships and donations. The founders have also begun to acquire and renovate real estate, and create housing that can be offered to program participants through rent agreements, or sold to provide income to further the organization's programs.
Florida Community Loan Fund has provided a Line of Credit to Pathway 2 Success. The first loan, in 2014, allowed P2S to acquire 6 homes which provided housing for rent to low-income households and helped fund mentoring programs. A second loan in 2017 will help with construction of a new affordable home; and when it is sold to a low-income household the line of credit can be used for another new home.
The financing through FCLF allows P2S to increase the number of homes that can be developed by creating additional capital that will improve low-income neighborhoods in and around St. Petersburg.
For more information, visit www.pathway2success.org.
Pictured: above, sample Pathway 2 Success home after restoration. Below, a home in need of rehab, and Pathway 2 Success founders in a newly remodeled home.