SMFS: We Have Impact

Over the next five years, SMFS will:

• Build a new community development and finance infrastructure in one of the poorest states in America;
  
  
• Assist 354 families to become homeowners, helping them build assets, retain wealth, and recapture hope;
  
  
• Generate $30,352,500 in mortgage finance throughout the nine-parish Investment Area;
  
  
• Make $157,500 in consumer loans that allow poor families keep money in their own pockets that otherwise would have gone to predatory lenders;
  
  
• In partnership with the Louisiana Rural Home Loan Partnership, teach 1300 families how to protect themselves from predatory lenders, gain control of their personal finances, prepare for homeownership, and care for their homes to protect the value of their investment;
  
  
• Inject $105,000 in business capital into the underserved investment area;
  
  
• Create new products for low-wealth families and for the CDFIs that serve low-wealth families, through alliances with local banks an national funders;
  
  
• Increase rural families’ access to affordable finance;
  
  
• Build communities through family and community development activities that build individual leaders and create strong communities; and
  
  
• Contribute to self-esteem and improved school performance resulting from living in a good home.
  
  

Families want and can get homes if better terms are available to them, if they believe that it is really possible, if they are given technical assistance to learn how the mortgage lending process works and are counseled to reduce debt and improve credit.


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