The Midlands Housing Trust Fund was incorporated in October 2010 as a South Carolina non-profit organization. The Trust’s mission is to create and preserve the stock of affordable housing in the Central Midlands region of South Carolina through financing, technical assistance, and advocacy of affordable housing projects. The Midlands Housing Trust Fund focuses on projects serving low- to moderate-income households who struggle to secure and maintain housing, including people who work at low-wage jobs, people who suffer from disabling conditions or have other special needs. The Trust is a revolving loan fund that lends to housing developers to create housing to serve households at or below 80% of Area Median Income.

Eligible activities for loans from the Trust include pre-development, acquisition, infrastructure, preservation of existing affordable housing, construction and creation of new affordable housing, rehabilitation and the conversion of market rate units to affordable housing. Funding from the Trust is provided to developers in the form of collateralized loans. The Midlands Housing Trust Fund does not offer grants in any form, nor does it lend directly to homeowners.

Loan applications made to the Midlands Housing Trust Fund are reviewed and underwritten by the Loan Committee of the Board of Directors. Loans in excess of $250,000 must be approved by the Trust’s full Board of Directors.

Loan applications may be declined for any or all of the following reasons:
• The loan does not fit within MHTF’s mission
• The risk of repayment is unacceptable
• The portfolio would be materially out of compliance with established diversification requirements
• Insufficient information
• The loan requires exceptions to this Loan Policy that would unacceptably increase the risk of nonpayment