Another shot: loan fund in running for $5.5m award.

For the second year in a row, the New Hampshire Community Loan Fund has been selected as a finalist in the 2009 Wachovia NEXT Awards for Opportunity Finance.

The Loan Fund is one of two finalists in the $5.5 million category--the largest financial level.

The Wachovia NEXT Awards for Opportunity Finance, in partnership with the John D. and Catherine T. MacArthur Foundation, recognize excellence among financial institutions that responsibly serve low-income people and communities and were established to spotlight how community development financial institutions, like the Loan Fund, increasingly benefit the nation's economy.

Wachovia said the Loan Fund was selected "because of its expansion in innovative financing program for manufactured housing mortgage loans, which has the potential to change mortgage financing in the manufactured home sector across the U.S."

Alan Cantor, vice president of philanthropy at the Loan Fund, said the award includes a $500,000 grant and a $5 million long-term, low-interest loan.

If the organization wins, Cantor said, the funds would be applied to its manufactured housing park program, which helps residents of manufactured housing parks form cooperatives and purchase the land on which they sit.

Cantor said this year the honor of being selected as a finalist--and perhaps a winner--is particularly important.

'Just about 99 percent of our funds are now committed," he said. "At a time when there's been a meltdown in the mortgage market, particularly when there have been abuses and widespread failure of loans to low-income borrowers in particular, the fact that we're being recognized for offering a product at a fair price is really worth highlighting."

Winners will be announced in October.