October 2025 Loan Round-up November 1, 2025

In October, IFF closed loans totaling approximately $14.6 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.

Casa Central Social Services Corporation

IFF closed a $1 million loan that provided Casa Central Social Services Corporation (Casa Central) with working capital after the nonprofit paid out of pocket for repairs to its headquarters and an adjacent community center facility in Chicago’s Humboldt Park neighborhood. Established in 1954, Casa Central offers an array of human services programs that support children, youth, individuals, families, and seniors, including early learning, after-school care, family intervention, elderly care, and supportive housing. The capital improvements completed by the organization were necessary to keep the aging facilities in good working order so that Casa Central can continue to operate its programs, and to host a variety of community, health, and career fairs, without interruption.

Compel Family Life Center

IFF closed a loan of approximately $127,000 that will enable Compel Family Life Center (CFLC) to complete repairs to the nonprofit’s 12,000-square-foot facility in Wauwatosa, WI. Planned building upgrades include the replacement of an HVAC system, elevator repairs, and the replacement of flooring, all of which will address critical facility needs that directly affect CFLC’s ability to provide holistic programs that support moral, emotional, and personal well-being, and to host an adult daytime activity center operated by its sister organization, Compel Them to Come (CTTC). Nonprofit CTTC was founded in 2004 and offers creative arts programming, educational workshops, and wellness activities designed to promote engagement, vitality, and community connection, while CFLC was founded in 2015 to serve as the ministry arm of the organization.

Housing Opportunities for Women

IFF closed a $1.4 million loan that will enable nonprofit Housing Opportunities for Women (HOW) to preserve 25 units of permanent supportive housing at its Jonquil Terrace property in Chicago’s Rogers Park neighborhood. Founded in 1983, HOW is a well-established developer of permanent supportive housing that serves individuals and families across Chicagoland that are experiencing housing insecurity. Jonquil Terrace was opened in 2008 and is comprised of one-, two-, and three-bedroom units. Currently, 12 of the units are unusable due to the building condition, and HOW will fully renovate the property to bring all of Jonquil Terrace’s apartments back into service while extending their affordability for 30 years. All of the units at Jonquil Terrace will be affordable to families earning 30 percent or less of the Area Median Income.

Additional sources of funding and financing for the $12.9 million project include state and local Fiscal Recovery Funds, an Illinois Affordable Housing Trust Fund loan, debt from the City of Chicago and Illinois Housing Development Authority, an energy efficiency grant from ComEd, and an Affordable Housing Program grant from the Federal Home Loan Bank of Chicago sponsored by IFF.

Oakland Academy

IFF closed a $3.32 million loan that enabled K–8 public charter school Oakland Academy to acquire a property in Portage, MI, where the school has been a long-term tenant since shortly after its founding in 1998. The purchase allows Oakland Academy to expand from operating in two facilities to three, strengthening its physical presence and long-term stability in the community. With the addition of a third building, the school will be able to increase enrollment from 157 to 200 K–8 students and launch a new pre-K classroom with early childhood education seats beginning in the 2026–2027 school year. Ownership of the property also gives Oakland Academy full control over how its facilities and grounds are used, creating new opportunities to expand programming and open its buildings and playgrounds to the community for meetings, events, and recreation outside of school hours.

Refuge & Restoration

IFF closed a $50,000 Flex Loan that will enable Refuge & Restoration (R&R) to complete repairs to the roof of its 88,000 square-foot facility in Florissant, MO, along with minor upgrades to the R&R Marketplace. The Flex Loan will help R&R maintain positive cash flow while awaiting government funding expected to arrive after the work is completed. Established in 1999, Refuge & Restoration was created to address pervasive economic and social distress impacting the community, with the organization operating a marketplace that is home to several economic and community development service providers.

Urban Theater Company

IFF closed a $450,000 loan to support Urban Theater Company’s (UTC) acquisition of a 2,268-square-foot commercial building in Barrio Borikén in Chicago’s Humboldt Park neighborhood, the community that has shaped UTC’s mission since its founding in 2005. UTC is a nonprofit arts organization dedicated to preserving and uplifting original plays and storytelling rooted in Puerto Rican, Latinx, and BIPOC experiences, using movement, multimedia, and immersive approaches to center underrepresented voices. The organization also offers mentorship, professional development, and creative pathways for emerging playwrights and theater artists, helping build connections between local talent and the broader arts ecosystem.

In its newly acquired facility, which will undergo significant renovations, UTC will develop a performing arts culture center that preserves neighborhood stories, nurtures young and emerging artists, and expands workforce development opportunities. This investment will strengthen community ties and support a sustainable future for arts and culture in Humboldt Park. Prior to the purchase, IFF’s Real Estate Solutions team conducted a visual assessment of the building to evaluate its condition and outline the improvements needed to align the space with UTC’s long-term programming vision.

Well Child Center

IFF closed a $250,000 loan that provided nonprofit Well Child Center with the capital needed to complete repairs to the organization’s 25,000-square-foot facility in Elgin, IL. Founded in 1971, Well Child Center offers vital programs to meet the nutritional and oral health needs of families with limited resources, without regard to race, creed, or ability to pay. Upgrades to the organization’s building include the replacement of the roof to secure the building envelope and prevent leaks, as well as the installation of new windows and doors that will increase the energy efficiency of the facility. Well Child Center will also build out a new dental clinic for pregnant and postpartum patients, increasing the organization’s capacity to provide high-quality care to the more than 11,000 patients and clients served annually. The total costs for all the upgrades, including the new dental clinic, totaled $331,000. The new dental clinic project was partially funded by a Community Development Block Grant from the City of Elgin.

Woodlawn Community Development Ministries

IFF closed a $1 million loan that provided predevelopment financing for WBC Manor, a mixed-use development in Chicago’s Woodlawn neighborhood. The facility will include 46 one-bedroom apartments for older adults (ages 62+), with 37 of the units affordable to residents earning 30-80 percent of the Area Median Income. A multi-use space and a manager’s office will be located on the ground floor of the facility. Residents will benefit from a courtyard between the building sections, a rooftop garden, community laundry rooms, storage lockers, and an on-site fitness center. WBC Manor will be built to meet green building certification standards. Permanent sources of funding and financing for the $35.9 million project are expected to include 4% Low-Income Housing Tax Credits, Chicago Department of Housing HOME funds, and Tax Increment Financing, among others.