What geographic areas are served by Mile High Community Loan Fund?
MHCLF finances projects in the seven-county Denver metro area as well as Larimer, Weld, El Paso, Pueblo, Clear Creek, Summit, and Eagle counties.
Does MHCLF provide loans directly to individuals or families?
No, MHCLF does not provide loans directly to individuals or families.
Who is eligible to borrow from MHCLF?
MHCLF provides short-term loans to:
What types of loan products are available?
Products offered by MHCLF include Pre-development, Acquisition, Construction, Bridge, and Mini-perm loans. These loan options provide access to capital for affordable housing developers and developers of nonprofit community facilities.
What are the loan terms?
Interest rates range from 5% to 10% depending on the risk profile of the project. Loan maturities vary from 12 months to 5 years depending on the loan type.
Rates will be set at time of loan approval.
How do I know MHCLF would be a good fit with my organization?
Keep in mind that each borrower is unique and each loan is customized to the borrower.
We encourage you to call with any questions. You can contact Sarah Archibald, our Director of Lending or Jeff Seifried, Executive Director, at 303-860-1888 with any questions you might have regarding loan options and the loan process.
How long does it take for MHCLF to process a loan application?
Loans are typically processed in less than 30 days. However, because many factors affect the timeline we encourage you to call to get a better idea on how long your loan might take.
Does MHCLF offer unsecured loans?
MHCLF will consider alternative collateral for predevelopment loans to nonprofits only.
Where can I get a MHCLF loan application?
Loan applications are available online.
Where can I get help during the application process?
To help you with the loan process we encourage you to contact us before filling out the loan application. Contact Sarah Archibald, our Director of Lending or Jeff Seifried, Executive Director, at 303-860-1888 with any questions you might have regarding loan options and the loan process.
Where do you get your funding?
MHCLF is capitalized through loans and grants from local, regional and national funders including U.S. Bank, Wells Fargo Bank, Key Bank, the Community Development Financial Institutions Fund of U.S. Treasury Department, the Colorado Housing and Finance Authority, and the cities of Denver, Arvada, Boulder, Englewood, and Lakewood.