NeighborWorks Capital is pleased to extend a $2 million enterprise loan to A Community of Friends (ACOF) in Orange County, California. The funds will provide additional liquidity as the organization implements a plan to improve its portfolio and cash position amidst rising insurance costs.
ACOF is an established provider of Permanent Supportive Housing (PSH), serving the Los Angeles community since 1988 with current staff of over 100. The organization develops, owns, and manages affordable housing, with the mission to end homelessness through the provision of quality PSH for people with mental illness. ACOF was the first nonprofit to pioneer this model in Los Angeles and currently operates 44 stabilized properties with over 1,800 units in greater Los Angeles.
NeighborWorks Capital has worked with ACOF on five loans since 2015 and looks forward to continuing to support their mission in the great Los Angeles area.
