A very proud moment for us at HCF happened last week when we issued the first loan from our Community Investment Fund! For those who don’t know, HCF established a Community Investment Fund with $5 million of its unrestricted funds. Find more on community investing link here
In HCF’s case, the first loan has been made to Hamilton Artists Inc. a long-standing artist-run centre that “supports and reflects the diverse environment in which we live”. HCF provided HAI with a bridge loan while they worked to complete the construction of their new building at the corner of James and Cannon. Have you seen it yet? If not, prepare yourself for a stunning transformation at one of Hamilton’s most visible corners!
While it is HCF who has ‘made’ this loan, it is in fact a team effort. Critical support and expertise was provided by Nora Sobolov and her colleagues at the Community Forward Fund. And staff, volunteers and board members at HAI were diligent and responsive throughout this process. Their comments embody why HCF is committed to this project and to the premise of community investing.
“Thank you to the whole team at the Hamilton Community Foundation for supporting this project and enabling our confidence and security to restart the project and complete it with your loan providing the capacity to do so.”
With many other potential community investment opportunities emerging, I look forward to sharing here more stories of HCF using its assets in unique ways to support positive change in Hamilton.