Montgomery County Community Foundation Creates Nonprofit Loan Program
Pictured left to right: Cheryl Keim, Grants & Community Relations Director, Kelly Taylor, CEO, Connie Esra, Director Recovery Coalition, Trent Smaltz, HHSB Chief Lending Officer and Brad Monts, HHSB President & CEO.
After years of grantmaking, often with available dollars falling far short of what was requested, Montgomery County Community Foundation (MCCF) partnered with Hoosier Heartland State Bank to create a nonprofit loan program, called Bridge Builder. This model of community investing can help address issues that fall beyond the scope of, or the capacity of, their traditional grantmaking. Established in 2021, MCCF has closed on its very first loan.
Connie Esra, Director of the Recovery Coalition signed closing documents on a loan that will allow them to purchase the building they occupy at 1300 Ladoga Road. Connie said that with programs growing, they saw the benefits of owning their building vs renting. The opportunity to purchase the building they rent aligned with a grant opportunity through the State of Indiana’s Dept. of Family and Social Services Administration, along with the required 10% match from the county’s unrestricted opioid settlement funds. The grant was approved; however, it is a reimbursable grant, meaning they had to make the purchase first. They didn’t have the funds of their own to do this. But with the funds promised, it was a perfect match for the Bridge Builder loan.
Recovery Coalition, Board President, Macie Simmons said, "As the Rec Center continues to grow, the purchase of the building will enable us to have sustainability and further expand our programs to support the recovery community!"
Recovery Coalition was formed in 2018 by those in recovery, along with others to foster recovery for those struggling with addiction. The Coalition created the Recovery Rec Center to promote sobriety, community, fellowship, and growth for those in recovery.
To learn more about the organization and its many programs, visit their website and follow them on social media.