Community Impact

DRI’s social impact goals are to reduce foreclosures, stabilize distressed neighborhoods, create jobs and provide affordable financing to communities that are underserved by mainstream banking.

DRI’s social impact goals are to reduce foreclosures, stabilize distressed neighborhoods, create jobs and provide affordable financing to communities that are underserved by mainstream banking.

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Success Stories

DRI has provided financing to those most in need through direct affordable housing lending and micro lending programs in low and moderate income areas. As part of these programs, DRI provides development services to borrowers by providing intensive financial education counselling, debt management planning, business plan development and strategies for reducing monthly homeownership costs.

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DTW Loan

DTW Realty Group LLC, a small minority owned developer and property management firm, lost its financial partner after procuring 10 properties for rehab. Due to aggressive rehabilitation requirements from the public entity seller, DTW risked losing their entire investment. Although the management team had extensive experience, its recent formation and the project location made traditional financing options impractical. DRI stepped up! DRI interviewed management to understand their business model, their minimum cash need & identified weaknesses in their exit strategy. After the assessment, DRI structured a plan to streamline their business process, identified a faster lower cost mechanism for title insurance and lowered their cash consumption by arranging terms with legal & title resources that deferred payment until close. Finally, DRI matched the local DTW with an international real estate broker that allowed him a safe exit strategy: the sale completed properties at high margins, while retaining property management income.

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Motor City Grounds Crew

The mission of Motor City Grounds Crew (MCGC) is to improve the appearance of parks and neighborhoods for residents and visitors who live, work and play in Detroit. Their aim is to help stabilize communities by mowing, manicuring, and maintaining City of Detroit properties and adopted parks.The Motor City Grounds Crew was able to get a contract from the City of Detroit to provide park and community maintenance of vacant lots throughout the City of Detroit. They received a contract to mow the vacant lots of the former Detroit public schools that had been closed down and were unkept.
However, they but needed some equipment to fulfill their obligations. The timing didn’t match up for Motor City Grounds Crew to be able afford the equipment purchase. DRI stepped in and purchased equipment so they could fulfill obligation and keep their business contract.

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JW Solomon Loan

A loan to JW Solomon Associates that allows its owner, a high potential veteran handyman, to become a general contractor. Our internal community development service team (a volunteer) arranged for interim employment, with an experienced development firm, at a documented income level 100% higher than his earnings. Upon receipt of his license, he is positioned for another increase or can return to entrepreneurship.

Success Stories

DRI has provided financing to those most in need through direct affordable housing lending and micro lending programs in low and moderate income areas. As part of these programs, DRI provides development services to borrowers by providing intensive financial education counselling, debt management planning, business plan development and strategies for reducing monthly homeownership costs.

DTW Loan

DTW Realty Group LLC, a small minority owned developer and property management firm, lost its financial partner after procuring 10 properties for rehab. Due to aggressive rehabilitation requirements from the public entity seller, DTW risked losing their entire investment. Although the management team had extensive experience, its recent formation and the project location made traditional financing options impractical. DRI stepped up! DRI interviewed management to understand their business model, their minimum cash need & identified weaknesses in their exit strategy. After the assessment, DRI structured a plan to streamline their business process, identified a faster lower cost mechanism for title insurance and lowered their cash consumption by arranging terms with legal & title resources that deferred payment until close. Finally, DRI matched the local DTW with an international real estate broker that allowed him a safe exit strategy: the sale completed properties at high margins, while retaining property management income. This loan reflects the culmination of more than 45 hours of development consulting services.

dwt-loan-quote

Motor City Grounds Crew

The mission of Motor City Grounds Crew (MCGC) is to improve the appearance of parks and neighborhoods for residents and visitors who live, work and play in Detroit. Their aim is to help stabilize communities by mowing, manicuring, and maintaining City of Detroit properties and adopted parks.The Motor City Grounds Crew was able to get a contract from the City of Detroit to provide park and community maintenance of vacant lots throughout the City of Detroit. They received a contract to mow the vacant lots of the former Detroit public schools that had been closed down and were unkept.

However, they but needed some equipment to fulfill their obligations. The timing didn’t match up for Motor City Grounds Crew to be able afford the equipment purchase. DRI stepped in and purchased equipment so they could fulfill obligation and keep their business contract.

motor-city-grounds-crew-quote

JW Solomon Loan

A loan to JW Solomon Associates that allows its owner, a high potential veteran handyman, to become a general contractor. Our internal community development service team (a volunteer) arranged for interim employment, with an experienced development firm, at a documented income level 100% higher than his earnings. Upon receipt of his license, he is positioned for another increase or can return to entrepreneurship.

jw-solomon-loan-quote

We realized that many folks from low & moderate income communities just don’t fit into the standard underwriting box needed to obtain a mortgage.

STEVEN KIRSCH,Managing Director of DRI Fund.

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Job Creation

DRI’s investments create both direct and indirect jobs in many different job sectors tied to the real estate industry.

These include but are not limited to Servicing, Non-profit counseling, Accounting, Property Management, Asset Management, Mortgage Trading, Real Estate Agents, Mortgage Brokers, Title Agents, Loan Officers, Property Inspectors, Property Appraisers, General Contractors, Sub-Contractors, and Property Maintenance Services.

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