Gateway’s Lending Activity Increases

Gateway’s Participation Loan Pool in St. Louis has loans outstanding of just under $1 million. In addition, guidance lines have been approved for three Community Development Corporations totaling just over $1 million that will permit these entities to purchase, rehabilitate and offer for resale distressed properties in St. Louis. And most recently, the Loan Pool Participants approved 3 loans or guidance lines which total $1 million for construction loans or first mortgages.

The Participation Pool in Kansas City approved its first loan, which was made to Truman Heritage Habitat for Humanity in Independence, MO. This guidance line will be utilized to fund home repair and weatherization programs.

We will continue to seek lending opportunities that will benefit the affordable housing communities we serve. For more information, please feel free to contact us at 314-436-7810.

Had it not been for the receipt of this funding, we simply would not have been able to begin our project.

Margaret May - Executive Director, Ivanhoe Neighborhood Council