Business Purpose Loans

• Business Loans
• Community Facilities Loans
• Emerging Entrepreneur Loans

Business Loans - These loans are intended to help small business owners improve their businesses by providing financing to purchase equipment and build, buy, or rehab buildings. An experienced management team can use CRF loans to purchase an existing business. Loans can also be used to refinance or restructure business debt. CRF business loans offer terms of up to 20 years, and loans can be secured by first or second liens on the collateral.

We also offer a more flexible term – a 25-year fully amortizing first mortgage for ballooning loans – for Community Development Financial Institutions (CDFIs)

Community Facilities Loans – Community Facilities Loans are provided to nonprofit community service organizations. Examples include community centers, childcare centers, schools, and hospitals, just to name a few. These loans are structured in the same way as Business Loans: terms of up to 20 years, and loans can be secured by first or second liens on the collateral. Community Facility Loans can also be used to purchase or remodel buildings and buy the necessary equipment.

Emerging Entrepreneur Loans – Currently these loans are part of a pilot program so they are available in limited markets. These loans are provided to new business owners who have not operated long enough to demonstrate sufficient profitability or to existing business owners emerging from financial difficulties. Typically, Emerging Entrepreneur loans have terms similar to our Business Loans.