Community Loan Programs

The Family Emergency Loan Program
Short-term loans (up to one year) for moderate-income families for assistance with fuel (utilities/oil, including assistance to avoid shut-off of service), heating systems/home repair (to deal with threats to basic shelter needs), medical/dental emergencies (payment for emergency services including toothache, extractions, etc.), security deposits (relocation expenses or to establish basic services), and disaster relief (funds to assist fire/flood victims).

Home Ownership Loan Program
Loans at market or below-market rates for low-income borrowers to support home ownership. The loans are secured by owner-occupied real estate in Greater Manchester for the benefit of low- and moderate-income borrowers. Loans will generally be made to non-profits who will manage the relationship with the home owners.

Low Income Rental Housing
Loans will provide permanent funding for approved non-profits' specific real estate rehabilitation or purchase projects of low-income rental housing units; transitional housing for children, families and individuals in need; or low-income cooperatives in the Greater Manchester area.

Economic and Community Development Loans
Loans to support small business and minority entrepreneurs. Emphasis is on businesses that create new jobs and on city renovations. Loans will generally be made to non-profits who will manage the relationship with small business.

Individual Development Accounts
Individual Development Accounts (IDA) are goal-oriented savings account for low-income individuals and families that include a matching fund (grant) if the participants qualify and complete the appropriate training offered by one of our non-profit partners. IDAs are a powerful tool to help low-income individuals meet their goals of homeownership, education, and other worthwhile endeavors. St. Mary's Bank is proud to be the first financial institution in New Hampshire to offer this program.

Grants
Grants are awarded to non-profit organizations 501(c)(3) for the express purpose of developing and/or administering activities that support or complement St. Mary's core Community Outreach Programs. Awards may fund program activities, defray administrative expenses, or purchase equipment.

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