Week 10 Update: Affordability Accelerator Final Week
Hello, Stakeholders of Almost Home Financial!
As a reminder, Almost Home addresses the needs of working families who can afford the costs of home ownership but are denied access to a mortgage. The company offers a financial path for home-buyers to become mortgage-ready within three to six months, including an injection of capital in the form of shared equity to resolve credit, debt and savings hurdles, as well as a personalized playbook to provide step-by-step instructions, encourage progress and track milestones.
The highlight of the Week
The highlight this week is the fundraising kick-off for next year’s pilot. After ten weeks of hard work — and taking full advantage of the resources provided by the Impact Hub Accelerator — we’re excited to begin preparing for a pilot that would provide data to take our proof of concept and develop an MVP.
Asks
- We’re raising $200,000 to fund the pilot, which includes both the loan fund as well as operating expenses.
- We’re also actively recruiting a product team member and subject matter expert on financial services legal and regulatory issues.
KPIs
The KPIs we’re tracking are those that lead to the successful launch of a pilot program.
- Investor Traction — 1 meeting conducted to discuss potential angel investments in the pilot
- Consumer Traction — 1 request to local social enterprise to interview users who have expressed homeownership as a near-term goal
- Mortgage Lender Traction — 1 follow-up meeting scheduled with a mortgage lender to discuss the possibility of partnering
We’re excited to build on this week’s momentum! Please let me know if you are interested in connecting and discussing our pilot plans.
Haydee Moreno
Founder
