Mile High Community Loan Fund
1905 Sherman Street
Suite 325
Denver, CO 80203
Office: 303-860-1888
Fax: 303-860-1848
Contact Us
Loan Programs for Nonprofits
Mile High Community Loan Fund’s nonprofit community facility program offers loans to finance and make possible the development, acquisition, expansion, or renovation of nonprofit community facilities serving low to moderate income or special needs families and communities.
These loans fund expenses related to predevelopment, acquisition, construction, or renovation costs of a nonprofit facility project. Loans are available to bridge gaps in financing resulting from timing issues on grants and donations, and the execution of capital campaigns.
Types of nonprofit facilities projects eligible include, by are not limited to, the following:
- Nonprofit administrative office space
- Recreation facilities
- Educational instruction space
- Medical or clinic facilities
- Day care and early childhood education facility
- Short-term group living facilities
- Community centers
- Workshops, laboratories, kitchens
- Museums and galleries
- Other special use facilities that support nonprofit organization’s missions
The loan products are available to nonprofits (501(c)3 who serve low to moderate income communities in the seven county Denver metro area, and Larimer, Weld, El Paso, Pueblo, Clear Creek, Summit, and Eagle counties.
Terms
- Loan amount – Up to $1,000,000 (Note: MHCLF can exceed this amount under certain circumstances through loan participations with other community development lenders.)Term of loan – 12 months (pre-development, acquisition, bridge, construction); 60 months (mini-perm)
- Collateral – All loans (except certain predevelopment loans) are secured with deeds of trust on real property and personal guarantees.
- Minimum processing time – 30 business days
- Origination fee – 1% of the total loan approval
- Interest rate – Ranges between 5% and 8%
We understand that each project is unique and work with you to make sure your loan fits your needs. As such, we encourage you to contact us with any questions or before filling out the application.
Erika Lindholm, Loan Programs Director
303-860-1888 ext 4
Jeff Seifried, Executive Director
303-860-1888 ext 5