August 2025 Loan Round-up September 1, 2025

In August, IFF closed loans totaling approximately $12.8 million for community-driven projects in the Midwest. We’ve included information below about many of the loans and what the organizations that received them are doing with the capital. To learn more about IFF’s lending, visit our Capital Solutions page.

Beloved Community Family Wellness Center

IFF closed a $1.7 million loan that provided Beloved Community Family Wellness Center (BCFWC) with financing for the expansion of the Federally Qualified Health Center’s facility in Chicago’s Englewood neighborhood. Founded in 2005, BCFWC provides holistic, comprehensive, accessible, affordable, and quality primary health care and social services programs to more than 10,450 medically underserved patients each year. One of three locations in the Chicago area operated by BCFWC, the expanded Englewood location will provide the organization with additional office space, exam rooms, and clinical operating space, enabling the organization to serve more patients, reduce wait times for clinical care, increase accessibility for health services, and decrease the number of patients utilizing the emergency room for primary care needs. Once the project is completed, BCFWC will relocate a dental clinic currently housed in a leased facility to the expanded Englewood location, which will create 13 full-time jobs. Beyond IFF’s loan, the $3.78 million project is being facilitated by agency equity and a Health Resources and Services Administration grant. A longtime IFF client, BCFWC has used several loans in recent years to expand its capacity and upgrade its facilities.

Columbus Fashion Alliance

IFF closed a loan of approximately $2.94 million that provided Columbus Fashion Alliance (CFA) with the capital needed to purchase a 43,000-square-foot facility in Columbus, OH, to serve as the nonprofit’s headquarters and as a fashion incubator and cultural hub. CFA is a collective of creatives, entrepreneurs, civic partners, and community and industry leaders passionate about the fashion industry with a primary objective to foster the growth and development of creative individuals and fashion-based businesses in Columbus. With its new facility, known as The Loom, CFA more than doubled its physical footprint. This will more than double the organization’s program and services capacity by expanding its classroom, design, and production labs and furnishing the spaces with state-or-the-art equipment needed to teach skills like industrial sewing and to help launch and scale fashion businesses. The Loom will house up to 19 tenants once upgrades to the facility are completed. Additional sources of funding and financing for the $3.96 million project, which will create nine full-time jobs, include agency equity, a grant from Franklin County, and a U.S. Department of Housing and Urban Development appropriation.

Kingsley & Co.

IFF closed a loan that will facilitate Kingsley & Co.’s acquisition of an underutilized parking lot in Cincinnati, OH, as well as predevelopment activities to transform the lot into a five-story housing development with 52 rental units for older adults (ages 55+). The building, Kinsey Lofts, will include 36 one-bedroom and 16 two-bedroom apartments, all of which will be affordable to residents earning 60 percent of the Area Median Income. Residents will benefit from on-site management, secure building entry, and in-unit laundry hookups. Shared spaces will include a community room with a full kitchen, a fitness center, and inviting outdoor areas. Additionally, with the development located along a bus line, Kinsey Lofts residents will have convenient access to a nearby grocery store, a medical campus, and an expansive local park. Additional sources of funding and financing for the $19 million project, which will create 30 temporary construction jobs and six permanent jobs, include owner’s equity, loans from a traditional lender and the Cincinnati Development Fund, and federal and state 4% Low-Income Housing Tax Credits allocated by the Ohio Housing Finance Authority.

LINC UP Nonprofit Housing Corporation

IFF closed a loan of approximately $224,000 through the Michigan Affordable Housing Loan Program to finance LINC UP Nonprofit Housing Corporation’s (LINC UP) development of a single-family home in Grand Rapids, MI, that will be sold at an affordable price to a household earning 80 percent or less of the Area Median Income. The two-story, 1,256-square-foot home will feature wood-frame construction with two bedrooms and one and a half baths, an unfinished basement with an egress window to allow for a future bedroom, and a complete kitchen appliance package. The home – which will be located in a walkable neighborhood close to shopping, grocery, parks, and public transportation – will also be energy efficient, with Energy Star appliances and low flow plumbing fixtures. Since its inception in 2000, LINC UP has rehabilitated 45 homes and built 23 new homes, with four homes currently under construction. Through its homeownership program, the nonprofit maintains a list of interested homebuyers who are working toward readiness to purchase a house. As the new home nears completion, LINC UP staff will move forward with reviewing homebuyer applicants and identify the buyer for the home. In addition to IFF’s loan, the $304,500 project is being facilitated with a HOME grant from the City of Grand Rapids.

Reestablishing Hope Inc.

IFF closed a $285,000 loan that provided Reestablishing Hope Inc. with the capital needed to acquire a 9,000-square-foot facility in South Holland, IL, that will house offices for the nonprofit. Reestablishing Hope currently leases two office spaces nearby and plans to relocate one to the facility it owns after renovations to the building are completed. Planned upgrades include structural and interior improvements, safety and accessibility updates, and exterior and pavement work. Reestablishing Hope, which provides behavioral health services, violence prevention programs, and support resources, will occupy the first floor of the facility and lease out the second floor to local businesses and community-driven organizations that complement the nonprofit’s mission. The new facility will expand Reestablishing Hope’s capacity, helping the organization better meet the needs of its clients and strengthening its partnerships with local schools, law enforcement, and community organizations to provide comprehensive, wraparound support. The project is expected to create five full-time jobs and four part-time positions.

River Oaks Community Education and Development Corporation

IFF closed a $50,000 Flex Loan that provided River Oaks Community Education and Development Corporation (ROC ED) with the capital needed to cover program-related operating costs while awaiting the disbursement of grant funds from the Illinois State Board of Education for after school programming. Founded in 2010 and based in South Holland, IL, ROC ED’s mission is to provide children and youth with a safe, educational, and fun place to learn, grow and socialize. The nonprofit accomplishes this through programming focused on academic enrichment, life skills development, health and fitness, and cultural awareness.

Urban Neighborhood Initiative

IFF closed a $1.3 million loan to facilitate Urban Neighborhood Initiative’s (UNI) development of 39 units of housing in Kansas City, MO, that will be affordable to residents earning 30-80 percent of the Area Median Income. The property will include nine three-story townhomes ranging in size from one to three bedrooms, as well as a community center and offices for UNI. Each of the units will include in-unit laundry, window coverings, patios, carpeting/vinyl flooring, walk-in closets, and central heating and air conditioning units. Residents will benefit from a community room, picnic/patio areas, greenspace, and supportive services focused on housing stability, employment, health and wellness, quality of life, and social/community connections. Additional sources of funding and financing for the $16.4 million project include a bank loan for construction, HOME funds and a grant from the Missouri Housing Development Commission, federal and state 4% Low-Income Housing Tax Credits (with Sugar Creek serving as the investor), the City of Kansas City Housing Trust Fund, a Midwest Housing Development Fund grant, and a Missouri Affordable Housing Assistance Program Donation Tax Credit.