Mile High Community Loan Fund (MHCLF) provides short-term loans to Non Profit and For Profit organizations for, 1) the development or preservation of affordable housing, 2) the development, redevelopment or renovation of commercial real estate in targeted neighborhood revitalization areas, and, 3) Non-profit organizations that serve low-income populations for the purchase and/or construction of facility space. MHCLF provides loans for projects located throughout Colorado.
Rates and Fees
Rates are set at the time of loan approval. For affordable housing projects, interest rates range between 4.5% and 9.0% and origination fees between 1.0% and 2.0%. Pricing is based on the amount and depth of affordable units in the projects. For non-profit facility projects, origination fee is 1% and interest rates range between 5.25% and 8%. Pricing is based on loan term and the total sources committed to the project.