Chatman lends her expertise to loan fund for housing

Columbia nonprofit’s new president ‘has a real heart for the community’

That sort of understanding, coupled with 15 years of business experience, made her a choice candidate for president of Enterprise Community Loan Fund of Columbia. Since taking the helm in April, Chatman has had the opportunity to help people in a variety of housing situations.

‘‘She has a real heart for the community. She understands we’re a company that deals in people,” said David Bowers, director of Enterprise’s Washington, D.C., office. ‘‘But she’s also very sharp on the business side of things. She knows this is not a charity, and that we have to be good stewards of the resources we have.”

The loan fund is a branch of the larger Enterprise Community Partners Inc., a national nonprofit housing and community development company. ‘‘We’re working with organizations who understand the community and feel it’s important to see that people are able to rebound, so they can have the stability of shelter and can rebuild their lives,” Chatman said.

The loan fund arranges financial assistance through acquisition and predevelopment lending, asset management and compliance, grants, low-income housing tax credits and permanent financing. These funds are used for first-time homeowners, single- and multi-family, rental, transitional, senior, workforce housing, and supportive housing for homeless with special needs.

In the last five years, the loan fund has closed 608 loans for more than 30,000 low-income and workforce homes. The $513 million in loans leveraged another $2.6 billion in public and private investments, according to Enterprise information.

‘‘We work to bring together public and private sector philanthropy to offer a below-market rate,” Chatman said. ‘‘We can take greater risks than are available in the marketplace.”

Chatman first saw the need for such housing early in her career. After earning her bachelor’s in finance from Howard University, she went to work for the NCB Development Corp., now NCB Capital Impact, and later for the Calvert Social Investment Foundation, where she was director of lending.

‘‘I saw the inadequacy of housing for seniors living in aging rural communities,” Chatman said. ‘‘Their homes were not appropriate to what they needed or could afford. I wanted the opportunity to look at financing and find appropriate housing.”

Chatman joined the loan fund as chief credit officer in 2004, was named vice president the following year and senior vice president the year after that. So it was only natural that when the president’s position opened up in early 2008, Chatman was suggested for the job.

‘‘Ms. Chatman brings a wealth of experience to her new position as president of the Loan Fund,” Doris Koo, CEO of Enterprise Community Partners, said in a statement. ‘‘She is a proven leader with vast community development banking expertise.”

The current housing market strains housing financial institutions such as Enterprise, as well as housing organizations.

‘‘Markets are going down, but it’s difficult to know where or how quickly they’re changing,” said Judy Meima, director of multi-family housing for Mi Casa of Washington. ‘‘People have gotten loans they were able to afford at one point, then found they can’t afford them.”

‘‘At the end of the day, we are a lender,” Chatman said. ‘‘Many challenges facing financial institutions also impact us. It all depends on getting money back from our investments.

‘‘We’re working toward making sure the loan fund is in a position to deliver our goals, and continue our objectives around sustainable development, impacting policy, and supporting and sustaining community development. Housing is essentially a building block for creating stability, both for an individual and for a family.”

In her spare time, Chatman volunteers with organizations such as Cornerstone, a Washington nonprofit that helps provide housing for people with mental illness, Our Lady of Lourdes Catholic School in Bethesda, and the local advisory board for the Nonprofit Finance Fund.

As a wife and mother of three, Chatman, who still lives in Washington, said she knows how important a home is to a family. For relaxation, she enjoys reading, travel and going to the beach.