Mile High Community Loan Fund
1905 Sherman Street
Suite 325
Denver, CO 80203
Office: 303-860-1888
Fax: 303-860-1848
Contact Us
Commercial Loan Officers
Co-Lending
Mile High Community Loan Fund can be a resource to banks and loan officers as they seek ways to make community development loans strong enough to work for the bank. MHCLF can provide a credit enhancement by funding a portion of a project’s cost or taking a subordinate collateral position.
On several occasions MHCLF has filled the gap on projects where a conventional lender can loan up to 75% Loan-to-Value (LTV) and MHCLF has provided funds for the middle position between 75% and 90% LTV.
Referring Loans
MHCLF may be able to lend money to bank clients whose project is not bankable. Lenders often want to help valued clients find alternative solutions to their financing needs when they are unable to help directly. MHCLF can help keep those relationships in tact.
Technical Assistance
Some nonprofit organization borrowers and prospective borrowers need information, resources, and advice on their project plans that are to time consuming (or exposes a lender to lender liability issues) for the banker to provide. MHCLF staff can take the time to help or identify others that can help prepare a borrower for the process they will need to complete to successfully approach conventional lenders.
Source of Referrals
MHCLF recognizes the value of a well developed, long-term relationship with a lender. Staff advises borrowers, particularly the nonprofit organizations served, to seek out bank involvement in their organizations, to build depository relationships and learn how their local banks can serve their needs. MHCLF is designed to supplement and complement the conventional financing resources. MHCLF seeks to leverage various sources of funds to maximize its impact and cause affordable housing and community development projects to happen.