PSP Lending Program
Wespath’s PSP Lending Program promotes affordable housing, community development and expanded loan opportunities for poor communities worldwide, while earning a rate-of-return commensurate with risk. The program began in 1990 with a $25 million commitment to affordable housing. The PSP Lending Program, through its qualified lending partners, participates in mortgage loans to real estate projects that support low- and moderate-income individuals, families and communities.
The PSP Lending Program focuses particularly on supporting affordable housing, by acquiring mortgage loans from independent third parties, usually nonprofit organizations. Investments in multifamily, senior and special-needs housing achieve risk-adjusted rates-of-return and result in demonstrated improvements in the quality of life for the thousands of people served. The program has made investments which have funded the construction, rehabilitation or preservation of over 51,000 affordable housing units in all 50 U.S. states and the U.S. Virgin Islands.
Wespath is also dedicated to investing in community facilities that work for or provide services to low- and moderate-income people, including homeless shelters, health care facilities, community centers and charter schools. Community development investments achieve risk-adjusted rates-of-return.
Impacting Participants and Communities
The PSP Lending Program benefits fund investors and communities worldwide. Wespath fund investors benefit from the positive financial returns—targeted individuals, families and underserved communities benefit from new or redeveloped assets, social services and job opportunities. We all benefit from more vibrant and stable neighborhoods with better quality schools and the necessary support services that contribute to thriving communities.
More information on Wespath’s PSP Lending Program is available here.