Family Promise of Southern NH has built a bridge for families to progress from being housing insecure to gaining stability, independence, and homeownership since 2002.

From a converted private school in Nashua with room for up to 24 families, the nonprofit offers transitional housing with financial literacy education, parent skills training, and case management. More than 120 volunteers and 24 religious congregations, across multiple religions, help support these clients.

“Families can stay with us for up to a year, and in that time, we help them overcome every obstacle, each barrier that has prevented them from owning their own home,” said Executive Director Pam Wellman.

Two years ago, however, the nonprofit needed a bridge of its own when the organization was preparing to meet increasing demand for its services by purchasing a building in Derry.

“We had a deadline and we were kind of scrambling as to how we were going to fund the acquisition,” said Executive Director Pam Wellman. 

The deadline was set by the seller — Derry Housing & Redevelopment Authority — but Family Promise needed more time to secure the federal and private funding it needed to buy and renovate the former adult daycare center.

Pam was already well acquainted with the New Hampshire Community Loan Fund and our mission. We’ve been a resource on financial literacy for Family Promise’s clients and we also help their program graduates qualify to purchase manufactured homes.

So, she reached out to our lending team. 

“We went to the Community Loan Fund and they immediately partnered with us,” she said. “They saw the value. They saw what we were trying to do and our missions aligned.”

We quickly approved an interest-only bridge loan. It means that Family Promise will be able to do what they do best: help more families rebuild their lives.