S.C. nonprofit organization CommunityWorks has generated $221M in economic impact for our state in 10 years by fostering financial education + wealth-building among those touched by inequality in pay, housing or jobs.
During their 10 years of serving S.C., the nonprofit has provided financial coaching, business coaching, business training, home-buyer education, and/or affordable loans to over 4,008 families.
Homeownership is practically a birthright in the U.S, but many low-wealth families struggle with cash requirements for closing costs and downpayments. CommunityWorks’ Homebuyer Assistance Program has generated 544 affordable home purchases, totaling $58M in home sales. They believe that having an affordable home and access to financial resources like coaching + non-predatory loans are crucial to increasing intergenerational mobility (doing better than your parents did).
CommunityWorks also prides itself on supporting underrepresented entrepreneurs in S.C. Their micro- and small-business lending tops $3.9M, and they’ve invested $6.3M in affordable housing and community loans, which preserved or built 622 housing units – in just one decade.
On top of financial impact, they’ve provided 33,990 hours of business and financial training to ensure that the skills needed to succeed aren’t mysteries to low-wealth families + underrepresented entrepreneurs.
See more impressive numbers + stories of impact in CommunityWorks’ 10-year impact report. Ⓟ
