Island Loan Fund: Community Lending
The Island Loan Fund provides real estate loans and technical assistance to Orcas Islanders who need a mortgage loan and are creditworthy, but are not yet eligible for a bank loan. The fund is capitalized by individuals who want to invest locally in order to help the island community retain its economic diversity.
Borrowers from the fund are Orcas Islanders. They are generally working island families who don’t yet meet the standards required by a bank to buy a home or to borrow to make modifications to their existing home. To learn more, click here.
Investors in the fund are individuals who seek a social-impact style investment that serves the needs of Orcas Island. They want to invest their funds locally to help their neighbors and to counter the island’s growing income inequality. To learn more, click here.