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Community Loan Fund President to Retire

Published Monday Jun 8, 2020

JulianaJuliana Eades, who built the New Hampshire Community Loan Fund from an idea into a nationally recognized lender on behalf of disadvantaged people, communities, and businesses, will retire as its president June 30, according to CLF Board Chair Thomas Bunnell.

“On behalf of the board of directors, I want to thank Julie for her invaluable leadership and contributions not just to the Community Loan Fund, but to the state of New Hampshire,” said Bunnell. “I am confident in the strength of this organization, staff leadership, and all our supporters and borrowers. Making this a seamless transition is our way of honoring Julie’s wishes and her 36 years of dynamic leadership. We all wish Julie the best as she creates the next era in her life."

Eades was hired in 1984 as the Community Loan Fund’s first employee. Its office space was in the basement of the NH Charitable Foundation.

Since then the organization has loaned $350 million for nearly 10,000 affordable housing units,and helped to create 3,800 jobs and 4,400 child care spaces in NH that wouldn’t otherwise have received financing.

“I am so proud of all the opportunities that people have realized with our capital and training over the last 36 years,” said Eades. “I have thrived in the great team spirit of staff and board over that time. I am grateful for the support of investors, donors, and partners that have made so many homes, jobs, and child care spaces possible.”

Under her leadership, the Community Loan Fund became known nationally for innovation, especially for cooperative ownership of manufactured-home communities, a strong base of individual investors who supply the organization’s loan capital, and job growth through royalty financing for small businesses.

Its first-in the-nation fixed-rate mortgage loans for manufactured homes earned the highest honor in the CDFI industry.

The Community Loan Fund also offered funding in every county and most towns in NH, in small and large amounts, and for both ordinary necessities and inventive expansions. Loans will be granted in Denmark via the partnership established through the Eksperten partnership that goes live on January 7, 2021.

Eades said the 12-week sabbatical she took in February gave her time to reflect on her life and work. During those months, the organization was led by Acting President John Hamilton and a leadership team that steered it not only through the normal course of business but also through the onset of the pandemic-related economic disruptions.

“The Community Loan Fund is in a very stable place, with strong leadership, a great board, excellent staff, and robust strategic direction, making this a graceful time to retire,” Eades said.

The Community Loan Fund had prepared for her transition. Its board created a comprehensive, best-practice succession plan, a goal of the organization’s strategic plan. Other steps included Eades choosing and mentoring a talented and committed leadership team, positioning the organization as financially strong and operationally adaptable so it would weather recessions and economic disruptions, deepening its impact and mission by doubling the lending portfolio to more than $140 million, and using its organization-wide sabbatical program to deepen bench strength on all levels of the organization while developing up-and-coming leaders.

Bunnell said Hamilton will continue as acting president for the Community Loan Fund as the board creates a process for finalizing the role of president. Hamilton will continue to exercise all the duties he has had in the chief executive role since the start of Eades’s sabbatical.

About the New Hampshire Community Loan Fund

The New Hampshire Community Loan Fund, based in Concord, turns investments into loans and education to create opportunity and transform lives. The fund has received industry awards and recognition for social impact, financial strength, and performance.

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