Justine Petersen Housing and Reinvestment Corporation

Justine PETERSEN Housing & Reinvestment Corporation (Justine PETERSEN), a Missouri not-for-profit 501(c)(3) corporation, wholly owns a Community Development Financial Institution (CDFI), Great Rivers Community Capital, certified by the U.S. Department of Treasury. Justine PETERSEN's mission of connecting institutional resources with the needs of low-moderate income families so they may build long- term assets is carried out by its products, which include credit building and financial education, homeownership preparation and retention, micro-enterprise lending and technical assistance and property development and management. It is a company that combines effective response to demand with an efficient and effective business model wherein revenues largely are outcome-based. Since inception in 1997, Justine PETERSEN has: • Counseled over 25,000 individual families on credit building strategies; • Assisted 4,300 low- and moderate-income families to purchase homes, accessing $345 million in safe, affordable mortgage loans; • Originated over $13 million in micro-loans to 2,500 micro-enterprises; and • Opened 1,500 IDA accounts and facilitated 1,000 matched withdrawals for asset purchases. Justine PETERSEN's CDFI, Great Rivers Community Capital, was created to expand financial products to its clientele. Since CDFI lending began in 2002, it has originated: • $2 million in consumer loans to 5,100 individuals for short-term emergencies, credit building, and payday loan alternative; • $2.6 million in first and second mortgage loans to 495 borrowers for down payment and closing costs, foreclosure prevention, and debt consolidation, • $5.3 million to over 400 entrepreneurs for micro-enterprise. Justine PETERSEN clients are: • 80% inner city residents; • 81% African-American; • 80% low- and moderate-income; and • 68% female headed households.