Laredo-Webb Neighborhood Housing Services Inc

Loan Services: NeighborWorks Laredo previously provided secured loans for down payment assistance, closing cost assistance, and home improvements to qualifying clients. Recently, the organization has not provided any type of secured loans, however the organization continues servicing the outstanding loans in its loan portfolio. Community Loan Center of Laredo (CLC of Laredo): In 2020, NeighborWorks Laredo commenced its lending operations of uncollateralized consumer loan program to combat predatory lending. The Community Loan Center Affordable Small-Dollar Loan Program (CLC) is a better alternative to expensive payday and auto title loans. Created by community lenders, the CLC program is designed to be a scalable and sustainable social enterprise. The CLC program allows the CLC of Laredo to make online loans directly to employees of participating employers. An eligible employee may apply for a CLC loan online, the loan proceeds are deposited in the borrowers bank account, and the borrower then repays their loan each payday through payroll deduction (collected by employer). As of September 30, 2024 there are six employers participating in this program.

Real Estate Management: In 2018 NeighborWorks Laredo placed a pause on developing rental real estate because it was not 100% property tax exempt. However, on August 3, 2023 the Webb County Appraisal District approved the 100% property exemption. Currently, all the real estate investments are helping produce additional rental units. in 2017 for Adalberto Beto Nava Complex, Phase II increasing rental portfolio to 67 rental units. On November 2016 NeighborWorks Laredo acquired a 2.59-acre tract of land from the City of Laredo for the development of a 40-unit Veteran, Senior, and Multi-Family Housing Construction Project. Rental construction plans did not materialize, however, NeighborWorks Laredo is now developing a 24 affordable home project known as Three Points Village.

NeighborWorks Laredo received grants to assist homeowners to ensure safety, environmental, economic, equity, and mobility to homeowners in Webb and Zapata Counties.