Overview of Loan Products
CCLF offers a variety of loan products to ensure that the needs of Chicagoland communities are met.
- Predevelopment Loans: Short-term loans for expenses incurred before construction begins, such as land or building acquisition, site stabilization, interim maintenance, environmental surveys, appraisals, legal and architects’ fees, etc.
- Construction and Rehabilitation Loans: Short-term loans used to build or rehabilitate a structure
- Housing Cooperative Loans: Custom mortgage products for limited-equity or low-income housing cooperatives
- Minipermanent Mortgage Loans: Custom mortgage products that finance the acquisition and rehabilitation of properties for nonprofit organizations engaged in community-based social service, housing, or economic development projects
- Equipment and Working Capital Loans: Medium-term loans to allow nonprofits and worker-owned cooperatives to buy equipment needed to establish or expand their commercial social enterprise
- For-Profit Predevelopment and Construction/Rehabilitation Loans: Predevelopment or construction loans for small to mid-size development firms engaged in a housing or economic development project that will benefit low- to moderate-income people and communities.
Note: CCLF does not make grants or cash-flow loans. CCLF does not provide loans to individuals.
To learn more about our financing and technical assistance services and our application process, contact the CCLF Lending Team or complete an inquiry online.
