Affordable Homeownership Foundation

Fort Myers, Florida

Story Overview

Affordable Homeownership Foundation, Inc. was founded in 2000 to provide comprehensive housing counseling, training, advocacy, technical assistance and housing opportunities. The organization manages and develops affordable housing for very low and low-income people with disabilities in Ft. Myers, Fla.

CEO Lois Healy had done her best to keep the organization afloat during the COVID-19 pandemic, but cash was running low. Affordable Homeownership Foundation relies on grant funding, but the pandemic forced many grantors to hold back funds. While the organization had been making payroll through its cash reserves, the solution was not sustainable for the long term.

After applying for a PPP loan in the first round of funding, Healy was able to get her loan quickly and begin re-establishing a solid financial foundation for the organization. This allowed Affordable Homeownership Foundation to continue its services – including home ownership counseling, renter counseling and foreclosure prevention – and adapt to a more virtual service model.

With our grant-based income dried up, we had been using our available cash for payroll. When we found out we could apply for a PPP loan, we jumped at the chance. Now, we have a sense of relief from our employees and our clients – the PPP loan has helped us be more sustainable as an organization.

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