Mile High Community Loan Fund
1905 Sherman Street
Suite 325
Denver, CO 80203
Office: 303-860-1888
Fax: 303-860-1848
Contact Us
How to Apply
Our goal is to minimize the administrative burden to our customers so they might receive their approvals and funding in a timely manner, therefore, Mile High Community Loan Fund provides a streamlined process for providing loan services. Our expedited underwriting process and weekly Loan Committee meetings ensure a speedy turnaround.
Mile High Community Loan Fund application is available online; however, because every borrower and project is unique, we highly recommend you contact us before completing and returning the application.
A completed loan application includes:
- Complete application form
- Audited financial and income statements for the three most recent fiscal years.
- Internally prepared financial statements for the most recent quarter and year to date.
- List of current board members and their occupations.
- Three references from other lenders (name, title, company and phone number).
- IRS 501(c)3 status notification letter (if applicable).
- Applicant Certification (see final page of application).
- Pictures and/or renderings of the site and/or proposed project (digital files such as tif, gif, or jpg preferred).
- Additional funding source commitments (if applicable).
- Property operating expenses and budget (if applicable).
- Property appraisal or market valuation (at least three recent comparable sales).
- Phase I Environmental Assessment (if available).
- Market study (for new construction projects).
- Property buy/sell agreement (if applicable).
- Projected loan draw schedule (if not fully disbursed at closing).
When a completed application is received, the Loan Program Director reviews the application and prepare a written report that is reviewed by the Loan Committee. (Loans greater than $500,000 will require Board of Directors approval also.) Once a loan is approved MHCLF uses outside legal counsel to close the loan.
Once the loan is closed, disbursement funds can be made available within 48 hours of request by the borrower.