Webster Bank Provides $11.2M to Support Sanctuary for Families’ Services

About Sanctuary for Families

Sanctuary for Families is New York’s leading service provider and advocate for survivors of domestic violence. For more than 40 years, Sanctuary has helped thousands of adults and children move from fear and instability to safety, dignity, and long‑term independence through comprehensive legal, clinical, housing, and advocacy services across 11 locations.

Client’s Challenge

Sanctuary for Families identified critical needs to continue delivering lifesaving support for the survivors they serve:

• Aging Transitional Shelter Infrastructure: Sanctuary’s 58‑family transitional shelter required major renovations—including façade repair, fire escape upgrades, new windows, roof replacement, lighting improvements, and other interior enhancements—to ensure a safe, modern, healing-centered environment for families recovering from trauma.
• Operational Funding Gaps: As a nonprofit that relies heavily on public-sector funding, Sanctuary faced the risk of delays in government reimbursements, creating potential short-term cash‑flow challenges.
• Need for Scalable Treasury Solutions: With multiple programs, locations, and funding sources, Sanctuary required secure, efficient treasury management tools to manage payments, protect funds, and optimize liquidity.

Webster’s Solution

Webster Bank’s Not-for-Profit team delivered a comprehensive financing and banking package tailored to Sanctuary’s operational and mission-driven needs:

1. $10.0 Million Draw-Down Tax-Exempt Bond

A 10-year, $10.0 million draw-down financing (including a 3-year interest-only period) to fund the renovation and upgrade of Sanctuary’s transitional shelter—supporting safer, improved temporary housing for families transitioning out of crisis.

2. $1.2 Million Revolving Line of Credit

A flexible liquidity solution designed to cover working capital needs and safeguard against potential delays in operational funding.

3. Treasury Management Solutions

A full suite of treasury services to help Sanctuary operate efficiently and securely, including:

• Wires and ACH
• Positive Pay
• Competitive interest-bearing accounts (averaging $2.5–$5.0 million in balances)
• Flexible fee structures
• Strong risk‑management practices