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Calvert Foundation Loan Program

 
Program
web site		 http://www.calvertfoundation.org/downloads/borrowe
rs/Lending%20Brochure.pdf
Sponsor Calvert Foundation
Deadlines Applications accepted on an ongoing basis
Purpose Calvert Foundation lends to more than 200 community organizations, including loan funds, microfinance institutions, affordable housing developers and social enterprises. Through their work, we are building strong, healthy communities. This program is for established community organizations that serve as a financial intermediaries and are in need of flexible, affordable capital.
Eligibility Loan candidates should meet the following criteria:
  1. Three years of operating experience. We do not typically lend to start-up organizations.
  2. A solid base of net assets or net worth. As general recourse lenders, we look to an organization’s net assets or equity base as a possible source of repayment. Loan candidates should have sufficient equity available to cover their desired loan several times over.
  3. Evidence of good operating performance. Loan candidates should demonstrate a minimum level of self-sufficiency by posting positive net income for the past two fiscal years.
  4. Audited financial statements. Loan candidates should be able to provide audited financial statements with notes for the past three years of operation.
  5. Debt capital. Loan candidates should have a track record of raising and repaying debt capital.
Requirements for social enterprise applicants are available on the program web site.
Geographic
coverage		 Nationwide
Amount of
funding		 $50,000 to $2.5 million. Loans are limited to 10% of applicant's total assets Loans range from one year to five years. With sound financial condition, investments are often recommended for renewal at maturity.
Application
process		 Requests for funding are considered throughout the year and the Calvert Foundation Investment Committee makes investment decisions quarterly. See Program web site for application instructions.
 

For more information contact:
Lisa Hall, Director of Lending & Advisory Services
Lisa.Hall@calvertfoundation.org
800.248.0337

Summaries of funding programs are provided by RAC for your convenience. Please contact the funder directly for the most complete and current information.