I am excited to report that the Leviticus Fund ended 2021 with strong lending outcomes despite the ongoing impact of the pandemic on our borrowers, lending partners and staff.
First, we reached two important milestones in 2021. We set a record with almost $32 million in loan closings for a single year, and a record-level $25.1 million in loan disbursements. We also launched a new lending program in 2021 – Empowering Diverse Real Estate Entrepreneurs (EDREE) – aimed at overcoming structural racism within the real estate industry.
In addition, we maintained our strong focus on development and preservation of affordable housing. Our lending in 2021 supported homes for 1,722 households, with 89% – 1,535 units – affordable for low-income individuals and families.
Our lending also supported a variety of other transformative projects, including increasing emergency shelter capacity for single adult women at a facility in New York City and developing a new 120-bed men’s mental health shelter, also in New York City. (Read more about our impact here.)
We are confident that remarkable things lie ahead. Our Board of Directors has unveiled a new mission statement and strategic plan for 2022-2024 that includes ambitious and forward-looking commitments to improve the quality of life for low-income people and communities, to expand racial and economic opportunities, and to increase our lending volume and efficiency.
Our latest newsletter profiles three of our latest loans, including two projects addressing the affordable housing needs of seniors. I can assure you that these projects—and all our accomplishments in the past year—would not have been possible without your continuing support.
Thank you for standing with us in 2021. And be sure to stay tuned for details on our new strategic plan in 2022. The best is yet to come!
With gratitude and best wishes,
Greg Maher
Executive Director
