March 4, 2010

Adrian Dominicans up investment

The Adrian Dominican Sisters have funded their third investment in the Housing Trust Fund. 

"With their new investment, the Adrian Dominican Sisters currently have $100,000 invested in our revolving loan funds," states Jerry Rioux, Executive Director of the Housing Trust Fund.  "This is their third investment since 2005."

The Adrian Dominicans' latest investment is a $35,000 loan with a 2% interest rate and a five year term.  The loan proceeds will be used to provide financing for affordable rental and ownership housing in San Luis Obispo County.

"The Adrian Dominicans are pioneers in the social investment field," Rioux adds, "and working with them has been a real pleasure."

The Michigan-based religious community's Alternative Investment Fund has provided more than 400 social investments since 1978.  Their loans and equity investments have supported nonprofit loan funds, affordable housing, economic development and social equity throughout the United States and abroad. 

The Sisters note that while these investments may provide a smaller financial return than conventional investments, they offer a greater social return.  Additional information on the Adrian Dominican Sisters' Alternative Investment Fund is available online at www.adriandominicans.org/OurMissionVision/PortfolioAdvisoryBoard/AboutthePAB.aspx.