CNE is a nonprofit housing organization that aims to create economically diverse neighborhoods filled with financially empowered citizens and housing for all. (Photo: Staff)
Chattanooga Neighborhood Enterprise is offering a new loan program to help homeowners repair their homes.
Getting a home improvement loan directly from a bank can be difficult, CNE President Martina Guilfoil said in a prepared statement. This loan is administered by CNE and funded by the bank. Its a win-win for everybody involved.
The loan program is made possible by a partnership between CNE andCitizens Tri-County Bank. It provides a new source of funding for homeowners who want to make home improvements.
Under the new loan program, homeowners can borrow up to a maximum of $25,000, andunlike past programsthis plan allows residents to make cosmetic changes.
CNE has renovated more than 3,200 homes in the Chattanooga area in the past 30 years.
CNE started in 1986 with the mission to eliminate substandard housing throughout Chattanooga using Community Development Block Grant funding administered through the city of Chattanooga. In the beginning, CNE was receiving close to $1 million per year, enabling the organization to do numerous repairs.
As federal funding continues to decrease, CNE has worked to secure funding from other ...