MRNY Headquarters and Community Center
Make the Road New York's (MRNY) new headquarters will consolidate its Queens, NY, operation under one roof. The project will include office space, classrooms, a commercial kitchen, and an auditorium. The consolidation will lower operating expenses, free up cash flow to expand services, and increase the number of low-income and immigrant New Yorkers served.
Loan Purpose: Bridge loan
Project: Community facility
Borrower: MRNY is a community-based nonprofit with a 20-year track record of serving the immigrant population in New York. The organization offers various services, including adult education, youth programming, legal support, and assistance enrolling for food stamps and healthcare.
Loan Details: In 2024, Partners closed a $747,630 participation in a $7,100,000 increase and extension of an existing $9,500,000 non-revolving bridge loan for MRNY with CDFI partner BlueHub.