Community Impact Loan Fund

Community Impact Loan Fund is sponsored by National Development Council (NDC). Provides flexible, affordable capital and free business support services to small businesses and nonprofits across the South and Southeast.

Community loan funds - Grow America Community Impact Loan Fund Transforming communities by empowering local businesses with access to capital is at the heart of what we do. Grow America’s family of offerings includes the Community Impact Loan Fund (CILF), which provides specialized loan programs designed to meet the unique needs of small business owners in more than 30 communities nationwide.

Community impact loan fund details Each loan fund has unique offerings, but in general, feature: Loans from $100,000 – $5 million Competitive interest rates determined after we evaluate an application Terms up to 10 years for general loan uses (such as working capital or equipment purchase) or up to 25 years for real estate purchase Available in 30 communities nationwide While businesses anywhere in the United States can apply for a loan with Grow America, those located in the following communities have access to unique loan funds: “Now that I own the building, it’s helped my confidence.

I don’t have to call the landlord and ask, can I please do this? I’m a shot-caller now. It feels good.

I’m able to employ people. You can become a well-paid, tax-paying citizen, it feels good. ” —Waverly Willis, Owner of Urban Kutz and CILF loan recipient More about the Community Impact Loan Fund The Community Impact Loan Fund, established in 2016, provides a lending option for businesses who need amounts or requirements different than those offered through the SBA 7(a) program.

CILF focuses on small businesses needing loans as small as $100,000, especially those that are early-stage, owned by women or people of color, or located in low-and moderate-income communities. With our flexible terms and hands-on assistance throughout the life of the loan, we help borrowers develop equity, create jobs, and build community.

We partner with foundations, states, and cities around the country to deliver affordable and accessible funding through CILF. Contact us if you would like to learn more about how to bring CILF to your community. Community Impact Loan Fund supporters Ready to fund your next big step?

Apply for a loan with Grow America today, and you could receive a conditional approval within 10 business days. Read our latest tips and articles for small businesses and lending partners What’s Changed About Getting an SBA Loan (And How to Be Ready) SBA lenders have always cared about credit and revenue, but that used to be most of the story. Today, they’re digging deeper into how your business actually operates.