Where: Kailua-Kona, Hawaii
Problem: Habitat for Humanity needed to replace its office and retail facility, which it had outgrown.
Solution: RCAC’s Loan Fund provided financing to relocate to a new facility.
Habitat for Humanity West Hawaii (HHWH) is a nonprofit organization that helps low-income families afford homeownership through volunteer labor, donated materials and low-cost mortgages. HHWH’s goal is to break the cycle of poverty for program participants.
RCAC provided a $140,000 loan to relocate Habitat’s administrative headquarters and facility to a larger and less expensive location. This helped HHWH retain its six employees. The additional space also allowed a job training component to be added to the program’s existing services, which created eight new jobs. As the building’s first tenant, the space was a shell of a structure and needed to be built to suit. Improvements included expanding the second level mezzanine by 576 square feet and adding additional offices and meeting rooms.
The Habitat for Humanity West Hawaii’s relocation and expansion is an asset to the Kailua-Kona area retail industry because it provides local and small businesses with quality, affordable products. The loan from RCAC helped HHWH further its mission to provide affordable housing and job training to West Hawaii residents. RCAC’s Loan Fund leverages funding from the Department of Treasury CDFI Fund and the USDA Intermediary Relending Program to attract private capital which allows RCAC to make loans to support the work of organizations like HHWH.
