First National Bank of Omaha Invests $2.5 Million with Mercy Loan Fund
First National Bank of Omaha has provided a $2.5 million Equity-Equivalent Investment to Mercy Loan Fund, announced Alec Gorynski, Vice President, Community Development and Corporate Philanthropy. First National Bank’s investment will support affordable housing lending activities throughout the bank’s seven-state footprint.
“First National Bank of Omaha is committed to helping our communities remain strong and successful by partnering with organizations that build, rehabilitate or finance affordable housing units,” said Gorynski. “Mercy Loan Fund provides the capital necessary for the construction of over 1,000 new affordable housing units each year, making our partnership a perfect fit to fulfill that commitment.”
Mercy Loan Fund (MLF) is a leading Community Development Financial Institution (CDFI), focusing exclusively on funding affordable housing and essential community infrastructure projects that support affordable housing. By collaborating with socially-responsible developers, MLF helps finance the development of single and multifamily homes for rental and homeownership. These developments help underserved communities, including people with low-incomes, seniors, farm workers, people who have experienced homelessness and people with disabilities. MLF is a subsidiary of the affordable housing nonprofit, Mercy Housing, Inc. (MHI), headquartered in Denver, Colorado.
“Mercy Loan Fund is excited to continue to support communities throughout the Midwest and Mountain West. Partnering with triple bottom line companies is a thrilling opportunity to serve low-income families by securing affordable housing for people in need,” said Jason Battista, President of Mercy Loan Fund.
About First National Bank of Omaha
First National Bank of Omaha is a subsidiary of First National of Nebraska. First National of Nebraska and its affiliates have more than $21 billion in assets and 5,000 employee associates. Primary banking offices are located in Nebraska, Colorado, Illinois, Iowa, Kansas, South Dakota and Texas.