April 17, 2006

Sisters of St. Francis of Philadelphia

The Sisters of St. Francis of Philadelphia became the Housing Trust Fund's fourth religious investor when they loaned us $50,000 earlier this month.

With this investment from the Sisters of St. Francis, the HTF has received nearly $4 million in lending capital from ten different funding sources.*  We are moving steadily towards our goal of raising $5 million in lending capital by the end of 2006.

The loan from the Sisters of St. Francis has a 3% 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 George Moylan Affordable Housing Fund is considered one source.  Click here for more information on the Moylan Fund.