For Immediate Release
December 6, 2016
Media Contact: Victor Ramirez
NEIGHBORHOOD PARTNERSHIP HOUSING SERVICES RECEIVES $82,500
GRANT FROM JPMORGAN CHASE TO SUPPORT
SOJOURNER SOLAR LOAN PROGRAM
RANCHO CUCAMONGA, CA – Neighborhood Partnership Housing Services, Inc. (NPHS) is announcing the recent $82,500 grant provided by JPMorgan Chase & Co. The grant will help support the Sojourner Solar social enterprise which provides access for low-to-moderate income (LMI) homeowners to purchase and install solar power systems, as well as affordable financing.
To assist community members understand the benefits and options of solar energy programs, funding will also support the SolarWorks energy education program which provides information on cost saving calculations, financing options (purchase versus leasing), solar tax credit programs, and opportunities for improving financial capability.
“NPHS has been a strong partner of JPMorgan Chase over the past years, and this recent grant to support innovative programs will allow us to continue moving forward with our green initiatives,” said Clemente A. Mojica, President and CEO of NPHS. “The overall goal of Sojourner Solar is to assist qualified homeowners offset their power usage by going solar and minimizing their electricity bill to as near net zero as possible at the end of the year. The program also aims at educating consumers on using the cost savings to pay down consumer debt, particularly the solar loan, to increase the net worth of the homeowner.”
The Sojourner Solar program provides a unique loan product and program that is considered a disruptor in community economic development through the creation of a new sustainable business model addressing environmental issues, promoting economic inclusion, supporting the creation of green jobs, and helping revitalize local neighborhoods. NPHS will directly market this program to qualified LMI homeowners who have acquired their home through NPHS’ homebuyer education and lending programs.
“We know that supporting a more environmentally sustainable global economy that harnesses renewable materials and energy sources is a challenge with real implications for every sector of modern society, including homebuyers,” said Myeisha Peguero Gamino, head of Philanthropy for JPMorgan Chase in Southern California. “That’s why we are delighted to support NPHS in its mission to provide affordable financing for solar power in the Inland Empire. We hope home owners can take full advantage of the cost savings from solar power.”
NPHS will also partner with municipalities who offer local solar tax credit incentives to promote and market the program to their qualified residents. This new innovative program is aligned with NPHS’ mission since it promotes sustainable homeownership and improves the quality of life for working individuals and families within the Inland Valley.
NPHS has provided community and economic development services to the residents of the Inland Valley since 1991. NPHS has grown from a small grassroots organization into a multifaceted organization serving the three Southern California counties of San Bernardino, Riverside and Los Angeles providing community lending, counseling and education, affordable housing development, and economic development programs.
About Neighborhood Partnership Housing Services (NPHS)
NPHS is a local nonprofit community economic development organization part of the Neighborworks® Network which is dedicated to building stronger communities by providing down payment assistance, homebuyer education, homeownership retention counseling, and affordable housing development benefitting low to moderate income families. NPHS also promotes economic development through their social enterprise programs providing access to capital, residential and commercial realty services and solar loan programs. NPHS’ mission is to build stronger communities in the Inland Valley by providing innovative housing opportunities, helping families succeed in homeownership and partnering to improve the quality of life in neighborhoods. Visit www.nphsinc.org for further information.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.5 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.