 |
For more information contact:
Lori Gray at
(210) 738-0312 or visit our website at
www.cdlf.net |
|
Community Development Loan Fund is
one of San Antonio’s most successful loan funds and perhaps one of
the city’s best-kept secrets. We want you to know who we are, how we
do business, and the impact we’ve had in our 8-county service area
since making our first loan in 1994.
Who We Are
Community Development Loan Fund (CDLF) was founded and capitalized
by the City of San Antonio and 17 local financial institutions to
provide loans to small businesses and community organizations with
limited or no access to capital from traditional financial
institutions. Over its 13-year history, CDLF has deployed more than
$9.7 million in loans to 154 small businesses and non-profit
organizations. Nearly half (48%) of all loans were funded in the
past three years. CDLF’s lending, typically in tandem with banks,
has leveraged an additional $30 million in financing to support
total project costs exceeding $60 million dollars. Loans range from
$10,000 to more than $200,000 with an average loan size of $85,000.
Loans are typically structured with 5-year maturities and up to
15-year amortizations to help businesses hold on to cash flow for
working capital. Interest rates may be fixed or variable and are
based on WSJ prime rate plus 2-6%, making our loans competitive and
affordable.
 CDLF
is a United States Department of Treasury certified Community
Development Financial Institution (CDFI). We are accountable for our
community economic development mission to the CDFI Fund, to our
banking partners, and to the communities we serve.
The CDLF Board of Directors is comprised of 8 experienced lending
professionals representing CDLF’s partner financial institutions and
9 small business owners representing the communities we serve.
How We Work
CDLF works closely with area banks to identify small business
borrowers within our target markets. Seventy-percent (70%) of our
loans are made in tandem with a bank loan, complementing and
extending the reach of conventional lenders. CDLF provides direct
loans when tandem financing is unavailable. We offer loans for
working capital, business expansion, equipment, real estate
acquisition, and facility improvements. Loans are underwritten by
staff and reviewed and approved by a qualified Board Committee.
 CDLF
operations are efficient and cost effective. Revenues from loan
interest and fees cover nearly 65% of annual operating costs above
the industry norm for National Community Capital Assoication (NCCA)
members that operate business loan funds. Loan delinquencies are
well below the industry average. CDLF had no loans 90+ days
delinquent at the end of FY05, as compared to 3.2% for NCCA business
lenders nationwide.
Community Impact
Since inception, CDLF loans have helped create and retain nearly 3200
jobs for principally women and minority businesses in underserved
neighborhoods. On average, each CDLF loan creates four new jobs and
keeps 15 employees on the payroll. CDLF’s cumulative impact is
significant by any measure.
- More than 2600 jobs retained
- More than 650 new jobs created
- 40% of borrowers are woman-owned businesses
- 63% of borrowers are minority business owners
- 76% of the businesses are located in underserved areas
Over the next three years, we project that CDLF loans will help create and
retain an additional 1400 jobs and leverage $19 million in tandem financing in
largely low-income minority communities.
|
