September 1, 2007

The Monarch Fund which is administered by the Calvert Foundation, an affiliate of the nation’s oldest family of socially responsible mutual funds, recently approved a $180,000 investment in the Housing Trust Fund.

“We are delighted to receive an investment from Monarch,” explains HTF director Jerry Rioux, “because they rarely invest in such a young loan fund.”

Lori Scott, Calvert’s program manager for Community Investment Partners commented that the HTF “is a very promising organization.”

The Washington, DC based fund’s investment has a three year term and 4.5% interest rate.  The investment increases the HTF total lending capital to approximately $4.3 million dollars.  These funds are used to finance affordable housing projects throughout San Luis Obispo County.