Funds to benefit small businesses, increase affordable housing
Bon Secours, which is part of Bon Secours Mercy Health, has announced its financial support of CommunityWorks through a 5-year, $750,000 loan. The non-profit financial organization plans to use the funds to help underserved families through financial education, lending and investing.
“Helping people is at the heart of all we do,” said Deb Long, Director of Community Health for Bon Secours St. Francis. “We know that serving our community doesn’t just stop at providing quality health care in our facilities. We must also do our part to help address other issues influencing the region such as affordable housing, education and employment. That’s why this loan is really an investment in our community.”
Bon Secours often develops long-term, collaborative relationships with local organizations like CommunityWorks to help identify and address priorities that will help improve the quality of life and health in local communities. While the Greenville-based organization opened its doors in 2008 as a local housing trust fund, it has since grown into a diverse Community Development Financial Institution that provides financial education and training as well as access to low cost loans for affordable housing, community facilities and commercial revitalization among other things.
“CommunityWorks is excited to expand our partnership with Bon Secours to support economic opportunities for underserved populations in core redeveloping areas,” stated Tammie Hoy Hawkins, CEO at CommunityWoks. “Bon Secours has been a partner of ours since 2015. The increased investment will enable CW to expand partnerships and develop innovative financing that supports neighborhood based small businesses and affordable housing opportunities in rapidly gentrified neighborhoods throughout Greenville.”
The $750,000 loan is part of Bon Secours’ Community Investment Program, where a portion of investment funds are given out as loans to community projects. These funds are made available to borrowers at low, or below market, rates to foster improvements in the overall health of communities. While the financial returns to Bon Secours Mercy Health are modest, the social impact and community returns are often significant.
Bon Secours St. Francis – Greenville
Bon Secours St. Francis is part of Bon Secours Mercy Health, one of the 20 largest health systems in the United States and the fifth-largest Catholic health system in the country. The ministry’s quality, compassionate care is provided by more than 60,000 associates serving communities in Florida, Kentucky, Maryland, New York, Ohio, South Carolina and Virginia, as well as throughout Ireland. Bon Secours St. Francis – Greenville provides compassionate medical care to thousands of area residents through Bon Secours St. Francis Downtown and Bon Secours St. Francis Eastside, as well as a network of primary and specialty care practices, and ambulatory care sites across the Greenville region. Consistent with its commitment to serve each patient with dignity, Bon Secours Mercy Health provides nearly $2 million per day in community benefit. The mission of Bon Secours St. Francis – Greenville is to extend the compassionate ministry of Jesus by improving the health and well-being of our communities and bring good help to those in need, especially people who are poor, dying and underserved. For more information, visit BonSecours.com.
CommunityWorks’ mission is to build a brighter future for underserved families and communities through financial education, lending, and investing. Certified by U.S. Treasury as a Community Development Financial Institution (CDFI), CommunityWorks operates a community loan fund that supports community economic development. Since its inception in 2008, CW has generated over $291 million in local economic impact, serving 6,044 families through small and micro business loans, business and financial coaching, affordable housing and community loans, and down payment assistance.