Mile High Community Loan Fund
1905 Sherman Street
Suite 325
Denver, CO 80203
Office: 303-860-1888
Fax: 303-860-1848
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CARS™ Rated
We are proud to announce that CARS™, the CDFI Assessment and Rating System, upgraded MHCLF’s rating to A2. CARS™ is the only ratings system to provide a comprehensive, third-party assessment of impact, performance and financial strength of CDFIs. MHCLF underwent a complete on-site assessment by CARS™ in 2010. MHCLF was one of only 30 CDFIs to have been through the process when it was first rated A3 in 2007.
The “A” part of the rating is the Impact Performance Rating and the “2” part is the Financial Strength and Performance Rating. MHCLF is particularly pleased with the Financial Strength and Performance rating of 2 from CARS™ (the ratings go from 1 through 5, with 1 being the highest rating); only 6% of the 60+ CDFIs rated by CARS™ achieved a higher rating in this area.
By getting a CARS™ rating, MHCLF has demonstrated commitment to transparency and rigorous performance standards. The exhaustive CARS™ assessment resulted in an objective and detailed analysis of our current impact and financial performance. Investors now have access to a detailed CARS™ report on MHCLF to augment their own underwriting and increase their monitoring efficiency.
CARS™ is an independent project of Opportunity Finance Network (OFN) launched in 2004 to promote performance as a primary criterion to determine the flow of capital through CDFIs and also to promote standardization of information and industry-wide performance standards. Ratings are based on five years of historical performance and cover a projected three-year period with annual updates in subsequent years. More information about CARS™ is available at www.carsratingsystem.net.