GRCF backs foreclosure rehabs with loaned funds

Slovik, Elizabeth
July 2009
Grand Rapids Business Journal;7/27/2009, Vol. 27 Issue 30, p3
The article reports on the federal Neighborhood Stabilization Program of Grand Rapids Community Foundation which is producing 2 million U.S. dollars from its endowment available for loans to assist developers fix up foreclosed houses. The money is being administered by Great Lakes Capital Fund and Capital Fund Services. The fund is intended to help local nonprofits and for-profit businesses acquire foreclosed houses for rehabilitation.


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