Community Housing Works is a non-profit housing developer whose mission is to strengthen neighborhoods and help families become financially independent. A loan from PCG enabled them to purchase and renovate the affordable Azusa Apartments located in Azusa, CA, a suburb of Los Angeles.
PCG’s $600,000 loan is the first loan funded under a new GAP loan program. The program was partially funded with a CDFI grant with a purpose of enabling partnerships with CDFI banks who face more stringent regulatory requirements, particularly loan to value constraints.