REDMOND, Ore. - To help jump-start its lending program, NeighborImpact welcomes Michael Hinton to the team as the agency's new lending director.
Hinton has 20 years of experience in the lending business where he worked for local banks, Hayden Homes in Redmond, and owned his own mortgage business. He's served on the Housing Works board of commission since 1998 and is currently the vice chair, so his knowledge of affordable housing is a bonus.
"Working for NeighborImpact presents a unique opportunity to use my past experiences to help individuals and families realize the American Dream and to enhance the economy of Central Oregon," says Hinton.
NeighborImpact operates a "gap filling" lending program, designed to help low- to moderate-income borrowers with needs that are unlikely to qualify for conventional financing.
Historically, NeighborImpact has made loans in the areas of home rehabilitation of distressed properties to address critical life-safety needs, replacing failing septic systems in low-income neighborhoods and providing down payment assistance in high-cost markets.
"Despite the recovery of the real estate market, financing remains a challenge for low- and moderate-income households," explains Scott Cooper, NeighborImpact's executive director. "Michael's expertise, both in commercial banking and in serving these households, is the perfect fit for our efforts to expand housing options to all Central Oregonians."
Currently, NeighborImpact is examining the need for other lines of business, such as microenterprise loans. Capital for NeighborImpact loans comes from a variety of federal and state programs. Over the life of the lending program, NeighborImpact has made $6.2 million in loans to 437 clients.
About NeighborImpact: Since 1985, NeighborImpact -- a 21 Cares for Kids partner -- has been a leader in developing solutions and bringing resources to Crook, Jefferson and Deschutes County. The agency offers a diversity of services meeting basic human needs for food and shelter, while enriching people's lives by providing access to increased education, skills, and hope for the future. NeighborImpact is a private nonprofit organization that receives federal, state and local funding; foundation grants; and donations from individuals and businesses in our community. To learn more about NeighborImpact please visit www.neighborimpact.org.