Clearinghouse CDFI (CCDFI) provided a $5,625,000 loan to Special Service for Groups, Inc. (SSG) to refinance their existing commercial mortgage on a property that provides mental health and outpatient counseling programs to the local community.
According to the California Department of Health Care Services, 1 in 26 California adults has a serious mental illness that makes it difficult to carry out daily activities. In these serious cases, SSG has stepped up to offer intensive, individualized support for diversion from hospitals and jails. With a $5.6MM loan provided by CCDFI, SSG is able to refinance their commercial mortgage on a 3-story office building and utilize a cash out option to replenish reserves. SSG uses the building for the Department of Mental Health LA County programs and services, which consist primarily of counseling and outpatient services.
Special Service for Groups, Inc. is a nonprofit human service organization dedicated to creating and sustaining community-based programs that serve vulnerable populations. With a range of services, SSG offers tailored health services to their respective communities.
Read the full story here: Special Service for Groups – Columbia Ave