St. Lucie County, FL, May 14, 2014 –
The non-profit Solar and Energy Loan Fund (SELF) received confirmation today from the Adrian Dominican Sisters (ADS) that they have been approved for another loan for $165,000. SELF was originally approved for a $35,000 loan last year and, after successfully deploying these initial resources with zero delinquency or defaults, ADS has now increased the overall size of the loan to $200,000.
ADS provides community development investments to credit unions, banks, housing projects, worker-owned cooperatives, loan funds and community organizations, with the goal of creating affordable housing and sustainable jobs. ADS has issued 448 loans since 1978, and SELF is the first organization in Florida to be approved for a community development investment. SELF will utilize the loan capital to finance more home energy retrofits, with a focus on low and moderate income census tracts.
SELF’s Chief Financial Officer, Duanne Andrade, said, “This is another vote of confidence from a prestigious community development funder who recognizes that SELF has proven its capacity to deploy and manage micro-loans successfully, while creating triple bottom line impacts.”
Lura Mack, Director of the Portfolio Advisory Board for ADS, said, “We are pleased to be working with the non-profit SELF organization to advance our common goals and to assist with community development activities in underserved areas in Florida.”