The Kensington Lending Partnership is a collaboration of four Community Development Financial Institutions, nonprofit organizations dedicated to providing responsible, accessible lending in developing neighborhoods. The partnership collaborates as investors, supporters, and neighbors to revitalize the Kensington Avenue corridor and surrounding community.

Our goal is to increase small business support, entrepreneurship, mixed-use development, and affordable housing. We work together to ensure that community members have access to resources and services that are often lacking in Kensington.



Partners

Connect with the partner that fits your goals.

Don’t know where you fit? KLP is committed to referring residents to the right partner for the right support. Approach any partner to access our full range of resources and services.

Loan Range:
$50,000 to $2,000,000 | >$5,000,000 for NMTC

Financing:
» Impact projects, affordable housing, commercial, and mixed-use development loans
» Small business lending

About:
Revitalizes communities by supporting affordable housing and job creation.


Apply for a loan

Loan Range:
$1,200 to $417,000

Financing:
» Residential mortgages for first-time homebuyers
» Micro & small business loans
» Commercial mortgages
» Technical Assistance
» Home Repair Loans

About:
Lending institution facilitating access to capital and consultation services for entrepreneurs, consumers, and first-time homebuyers.


Apply for small business loans

Apply for residential mortgages

Loan Range:
$25,000 to $100,000

Financing:
» Jumpstart Kensington developer training and loan program
» Small business lending
» Technical Assistance

About:
Impact Services works in partnership with residents, businesses, and neighborhood stakeholders to create safe, healthy and prosperous communities.


More Information

Loan Range:
Up to $8,000,000

Financing:
» Affordable housing, commercial and mixed-use development loans » Nonprofit lending

About:
Strengthens neighborhoods through investment in affordable housing and business development loans.


More Information

Nathan McCann

Nathan McCann

Vice President, Community Lending
Community First Fund
215-510-2819

Apply for a loan.

Michael Alles

Michael Alles

Vice President of Lending
FINANTA
MichaelAlles@finanta.org

Click here for small business loans
Click here for residential mortgages

Paul Marcus

Paul Marcus

Director
Impact Loan Fund
267-209-0450
loan@impactservices.org

Click here for more information

Katya Noreika

Katya Noreika

Lending Program Officer
LISC Philadelphia

Click here for more information

  • FINANTA began working with borrower Fausto Reyes in June 2016. Reyes owns a 'scratch and dent' appliance store in the Kensington neighborhood...

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    FINANTA began working with borrower Fausto Reyes in June 2016. Reyes owns a "scratch and dent" appliance store in the Kensington neighborhood, repairing and reselling lightly-used home appliances. Reyes accessed a working capital loan for inventory after working with FINANTA technical assistance officers to strengthen his credit and bookkeeping. In February 2017, FINANTA financed Reyes' acquisition of his business's building, a mixed-use property with apartments on the second floor. In November 2018, FINANTA financed Reyes' acquisition of a second "scratch and dent" business as well as the commercial real estate with leveraged capital. Reyes has increased revenue, assets, and net earnings while working with FINANTA, and also increased his credit score.

    Photo credit: Peder Wiegner
  • Sergio Giraldo talking in front of a group of people

    Sergio Giraldo opened a sales office on 6300 block of Rising Sun Avenue, and his company has grown to 22 employees...

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    Sergio Giraldo owned and operated a pizzeria in Philadelphia, which he sold in 2004. With the proceeds, he acquired his real estate license and began renovating and selling homes. He has a background in construction and rehabbed properties using his own general contractor's and plumbing licenses. He opened a sales office on the 6300 block of Rising Sun Avenue, and his company has grown to 22 employees.

    Since early 2018, Sergio has been expanding his relationship with FINANTA.

    Photo credit: Chris Kendig
  • Abelmageed Elgamal in his store

    Impact provided financing to assist borrower Abelmageed Elgamal with acquiring a 2000 SF neighborhood grocery and convenience store on the Kensington Avenue commercial corridor...

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    Impact provided financing to assist borrower Abelmageed Elgamal with acquiring a 2000 SF neighborhood grocery and convenience store on the Kensington Avenue commercial corridor. The loan also funded inventory, interior improvements, and additional refrigeration equipment. Elgamal set more consistent store hours and increased hours of operation to seven days a week. With greater attention to ensuring shelves are stocked, Elgamal more than doubled revenue last month over the previous owners' operations. The grocery store provides fresh, unprocessed food to the neighborhood, accepts WIC benefits, and is seeking approval to accept Farmers Market Nutrition Program (FMNP) coupons. Elgamal emigrated from Egypt to the US in 1989. In 2008, Elgamal came to Kensington to open a retail clothing business and after leasing it for five years, purchased the building in 2013. The grocery store, Elgamal's second business, is located about a block from Elgamal's clothing store. This is Elgamal's 4th loan with Impact. With the financing, he hired additional staff and family members to operate the store. He plans to purchase the grocery store building in the next few years.

    Photo credit: Brad Larrison for WHYY

Download the Baseline Report

The Kensington Lending Partnership created a baseline report to understand existing conditions in the community and to share the intended impacts of our work.

DOWNLOAD

View the Heart of Kensington Collective Impact (Neighborhood Plan)

With the generous support of the Wells Fargo Regional Foundation, Impact Services and its partners developed the Heart of Kensington Collective Impact neighborhood plan that sets a vision for the future of Kensington as a neighborhood that is a safe, healthy and clean community.

VIEW PLAN