Fahe Community Lending (CL) recently closed a loan with Helping Hands Now (HHN), a nonprofit organization located in Georgia, our first in the state of Georgia. The loan provides HHN with the financial capacity to build three zero energy single family affordable homes, the first of which is already under construction. After the successful completion of the three houses, CL hopes to continue the partnership with HHN on future building projects, including a zero energy affordable neighborhood project currently in the planning stage.
The homes being built will utilize an insulated building material called SmartSteel, which is the key to making the home extremely energy efficient, virtually eliminating the homeowners monthly electric utility bill, saving them hundreds of dollars annually.
SmartSteel is manufactured by Enviro Builders which is partially owned by Helping Hands Now President Howard Harper. SmartSteel has an R-Value of 49 which provides a 65% to 75% reduction in electricity consumption compared to traditional wood frame construction. To further reduce monthly cost, each home will be fitted with solar panels which is expected to provide the majority of the homes energy needs and may even give the homeowner the means to return energy to the local power grid.
Helping Hands Now, a nonprofit based in Fort Valley Georgia, opened in 2015 with a focus on STEM (Science, Technology, Engineering, and Mathematics) education and mentoring for school aged children, cultural and educational activities for senior citizens and improving housing conditions for seniors through affordable loans and the development of energy efficient housing around Macon, GA. They are a longtime 502 Packager with Fahe’s mortgage division, JustChoice Lending.
We are excited about the new partnership with Helping Hands Now, and look forward to growing the partnership for many years to come as they continue to grow and provide leadership and opportunity to their communities. As a CDFI, Fahe is dedicated to working with organizations such as HHN and providing responsible access to financing to underserved communities helping drive the creation of essentials such as affordable quality housing, jobs, and community facilities.
Fahe Community Lending provides access to financing options with competitive long term fixed interest rates and flexible terms to Fahe Members and other nonprofit and for-profit organizations, most of which operate in areas underserved by traditional lenders. Fahe CL utilizes programs such as USDA Community Facilities and the US Department of the Treasury’s Bond Guarantee Program to bring to life community development and local business initiatives such as healthcare facilities, educational services, utility services, public safety, local food systems, senior living facilities, drug recovery services, and much more.
Click here to learn more about Fahe Community Lending.