Joseph Corporation received a two year, interest-free, $1 million investment from the Dunham Fund in 2011. This investment introduced the Dunham Fund Rehab and Refill Program, a revolving loan fund for Joseph Corporation to purchase, rehab and resell anywhere from 10 to 15 distressed and unoccupied homes in a year. The homes must be purchased from an area in Aurora that has been identified as a “Neighborhood Revitalization Strategy Area” (NRSA) by the City of Aurora located on the near east side of Aurora.
Joseph Corporation will use licensed professionals to complete the rehabs on the purchased homes using sustainable products. The loan fund will be replenished with the sale of each rehabbed home. Joseph Corporation is required to repay the loan within five years of the agreed upon date.
