St. Louis’ Provident makes improvements to current site, refinances existing debt

St. Louis’ Provident makes improvements to current site, refinances existing debt

With nearly $1.3 million in loans from IFF, Provident, Inc., will make improvements at its 19,000-square-foot building in the St. Louis Midtown West neighborhood, including a new HVAC system, windows, and future projects such as a security system and lobby renovations. The loan also will go toward refinancing existing debt, reducing Provident’s monthly debt service and providing greater cash flow.

Working throughout the entire St. Louis metropolitan area, Provident is a long-standing and respected institution that provides critical services to youth, adults and seniors through counseling, suicide prevention, and community outreach. With a staff of 124 employees, Provident serves over 35,000 individuals annually through its programs, including its 24-hour suicide hotline — one of the oldest and largest in the country. Additionally, through a partnership with the Area Resources for Community and Human Services, Provident helps over 600 students across 10 schools through its after-school program. The agency’s work is made possible through its strong community support. Last year, volunteer help reached 23,000 hours.

Provident is one of the recent loans provided by IFF as it surpasses $50 million in lending to St. Louis nonprofits, housing developers, and grocery store operators since 2006. In the city, IFF has made loans to 42 organizations in such sectors as affordable housing, arts and culture, charter schools, child care, community development, and youth services.

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