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Isaiah Funds launch in New Orleans

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as i reported yesterday, a national inter-belief catalogue is expanding on the basic role that rigorous institutions have played in the katrina rebuilding deed by launching the isaiah funds, an innovative loan and grant program to recoil skip over-start rebuilding in novel orleans.the budding orleans times-picayune reports on the project today:a diverse group of obedience-based organizations has raised $4.5 million to create two disaster relief funds that longing help affordable-housing projects close financing gaps, help insignificant businesses discuss master b crush on their feet and truss the development of community centers on the gulf coast.the isaiah fund llc, a project of universal, jewish, mennonite and baptist institutions, is believed to be the primary national interfaith fund quest of long-term house-broken disaster revival. the groups, which have been acting in volunteer efforts after hurricane katrina, explain they recognize that some of the hardest rebuilding oeuvre still lies ahead, and providing long-term, low-outlay, flexile capital is one of the best ways they can on to help. …

The two funds, one for loans and one for grants, will initially focus on low-income communities on the Gulf Coast, but the founders hope that the Isaiah Funds will become a blueprint to create other funds to support recovery from future disasters.

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The Isaiah Fund’s goal is to grow the program to $10 million for loans and $1 million for grants by the end of 2009 with the help of other foundations and faith-based institutions, some of whom accompanied the organizers on their trip to New Orleans. The offering circular will be sent out to prospective investors next week.

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in a region that’s still struggling and looking to go to signs of hope, the isaiah funds are a very encouraging effort.
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