USDA 'Community Facilities Relending Program' for CASA

First Southwest Bank • September 21, 2018


First Southwest Bank recently provided financial lending to enable Court Appointed Specialist Advocates (CASA) of the 7th Judicial District to acquire real estate to help expand their offerings in Montrose, CO. Using the USDA Community Facilities Relending Program to facilitate this opportunity, we provided low-cost, fixed rate financing, for this well established, non-profit.

“Only a few organizations nationwide received the USDA Community Facilities Relending Program funds,” says Sherry Waner, Director of Special Programs. “Here at First Southwest Bank, we seek out opportunities to make a difference. That’s why we’re  excited that these funds will be used to help bolster economic vibrancy and assist with access to resources helping to elevate targeted rural populations.”

annie-spratt-706839-unsplash.jpg

CASA’s mission is for every abused or neglected child in the United States to be safe, have a permanent home, and the opportunity to thrive. CASA/GAL volunteers are appointed by judges to watch over and advocate for abused and neglected children, to make sure they don’t get lost in the overburdened legal and social service system or languish in inappropriate group or foster homes. Volunteers stay with each case until it is closed and the child is placed in a safe, permanent home. For many abused children, their CASA/GAL volunteer will be the one constant adult presence in their lives.

“As we moved towards purchasing a new office and visitation facility, it became readily apparent that we would need a relatively secure and timely financing option,” says Carlton Mason, Executive Director, CASA of the 7th Judicial District. “We also wanted a fixed rate for at least a 30 year term and very little down. Once we entered a contract on the property our earnest money would be non-refundable in 45 days. We were asking a lot. First Southwest Bank was incredibly responsive. They moved quickly on an appraisal, phase 1 environmental study, and had our pre-approval before the earnest money went hard. We closed nearly 3 months early on the first try.”

patricia-prudente-308821-unsplash.jpg

For more information about our creative lending opportunities, please contact Sherry Waner, Director of Special Programs, at AllSpecialLending@fswb.com, 970.946.6160.