For over 75 years, the Walnut Avenue Women’s Center (WAWC) has worked to improve the lives of women, children and families in Santa Cruz County. Many of the women who come to WAWC are from underserved populations due to poverty, early pregnancy, homelessness and/or domestic violence. The organization is women-centered, and seeks to put women’s experiences at the center of their mission by providing services that empower and inform women, their children and their families, enabling them to realize their potential in all aspects of their lives.
In 2008, WAWC received a $1.1 million loan to expand and renovate their building, which they planned to pay back through a capital campaign. Due to the economic downturn, the organization couldn’t mobilize the campaign. Unable to refinance the loan because of the reduced property value to the loan’s terms, WAWC turned to Community Vision to refinance the original loan as well as a line of credit they had received in 2001. The organization received a $1,126,250 loan from Community Vision and was able to merge both loans.
With the consolidation of the loans, the Walnut Avenue Women’s Center has more time to pay the loans back at a comparable interest rate. It will also allow the organization to restart its capital campaign while they continue to serve their community.