Borrower

Emmanuel House

Community Value

Affordable Housing

Loan Product

Mini-permanent Mortgage

Amount

$325,000

Location

Aurora, IL

Narrative

Rick Guzman and his wife founded Emmanuel House in Aurora in 2002, initially helping refugees resettle and build wealth. Since then Emmanuel House has expanded, trying to break the trap of working-class poverty by helping working-class people in Chicagoland secure a home. The organization accomplishes this through its Networked Savings program, which puts rent payments into a savings account, and providing financial literacy classes. Emmanuel House currently operates 22 apartments and has helped over 100 individuals and 30 families through their Networked Savings program and technical assistance.