As one of the largest nonprofit community development financial institutions in the country, Enterprise Community Loan Fund delivers high-impact capital to the people and places that need it most.

Partnering with community groups and investors, we combine financial discipline, deep expertise, and highly-collaborative partnerships to build and preserve homes people can afford, and invest in neighborhood resources and facilities residents need most, including schools, federally qualified health centers, stores with healthy food options, and more.

Are you a Community Partner?

 

Are you an Investor?

 

Track Record

Investment Discipline Social Impact
  • $2.9 billion Invested
  • $554 million Assets Under Management
  • AA- Rated by Standard & Poor’s*
  • AAA Highly Rated by Aeris*
  • Member of Opportunity Finance Network
  • 145,359+ homes preserved and improved
  • 591,200+ health care visits facilitated
  • 17,260+ school seats created
  • 6.8 million square feet of community and commercial real estate developed/rehabbed

*Aeris is a CDFI rating agency and rates CDFIs for both financial strength and impact. Standard & Poor’s Global ratings provides ECLF a rating as an issuer of securities. S&P also rated ECLF’s Series 2018A General Obligation Sustainability Bonds, which were issued in 2018. S&P updates both ratings on an annual basis. Neither the Aeris nor the S&P ratings should be interpreted as a statement as to the risks or suitability of an investment in securities issued by Enterprise Community Loan Fund other than the Series 2018A Bonds. Past performance is not a guarantee of future results.

Focus Areas

  • Loans for affordable housing
    • Rental housing: Financing for the preservation and development of affordable multifamily rental housing
    • For-sale housing: Financing to foster home ownership for residents and families with low-incomes
  • Loans for health
    • Health care: Financing for the development of community health centers and other service facilities, including federally qualified health centers (FQHCs), that expand access to high-quality, affordable healthcare to individuals, families, or communities that are medically underserved regardless of their ability to pay 
  • Loans for food security
    • Healthy food: Financing for healthy food outlets and healthy food retailers in federally designated food deserts
  • Loans for education
    • Charter schools: Financing for high-quality public charter schools that predominantly serve students with low-incomes
    • Early child care facilities: Financing for early learning facilities serving children from birth to five years
  • Loans for business
    • Commercial real estate: Financing for mixed-use development, retail, manufacturing, and office space to be leased or owned by nonprofits, for-profits, or government entities in underserved communities to foster job creation and commercial revitalization
    • Community services: Financing for facilities and service providers that provide vital community services that benefit individuals and/or communities with low- to moderate-incomes
  • Loans for affordable basic infrastructure
    • Renewable energy: Financing for the installation of solar photovoltaic systems to be leased or owned by nonprofits or mission-aligned for-profit developers to expand access to renewable energy in low-income communities 

Learn more about how our focus areas contribute to 11 of the United Nations' Sustainable Development Goals and conform to the International Capital Market Association’s Sustainability Bond Guidelines in our sustainability bond framework.


Community Partners

Our CDFI provides flexibly designed loans to build and preserve homes with affordable rents, health care clinics, grocery stores, and schools, among others community facilities.

Types of Loans

Predevelopment 

  • Purpose: Third-party expenses related to design and development activities prior to construction, which may include permits and applications, third-party due diligence, and consultant fees
  • Eligible projects: Rental housing, for-sale housing, mixed-use projects, community facilities, and commercial facilities
  • Term: Up to 24 months
  • Loan amount: Up to $2 million
  • Repayment: Interest-only, payable monthly
  • Loan fees: Up to 2% of loan amount plus legal fees
  • Collateral: Generally secured on senior lien; flexible
  • Recourse: Full recourse

Acquisition

  • Purpose: Available for land and building acquisition, predevelopment, and critical repairs 
  • Eligible projects: Rental housing, for-sale housing, mixed-use projects, community facilities, and commercial facilities
  • Term: Up to 24 months
  • Loan amount: Up to $8 million
  • Repayment: Interest-only, payable monthly
  • Loan fees: Up to 2% of loan amount plus legal fees
  • Collateral: Senior lien on real estate collateral with LTV of up to 60% for vacant land; up to 80% for cash flowing properties
  • Recourse: Full recourse

Construction 

  • Purpose: Available to pay for hard and soft costs of new construction or rehabilitation with expected repayments typically from a permanent loan
  • Eligible projects: Rental housing, for-sale housing, mixed-use projects, community facilities, and commercial facilities
  • Term: Up to 24 months
  • Loan amount: Up to $10 million
  • Repayment: Interest-only, payable monthly
  • Loan fees: Up to 2% of loan amount plus legal fees
  • Collateral: Senior lien on real estate collateral with LTV of up to 80%
  • Recourse: Full recourse

Bridge Loans

  • Purpose: To bridge the timing gap between project or program costs and receipt of cash from committed or anticipated sources like LIHTC equity and/or Historic Tax Credit Equity. May also be used to bridge other financing sources.
  • Eligible projects: Rental housing, for-sale housing, mixed-use projects, solar, community facilities, and commercial facilities
  • Term: Up to 48 months
  • Loan amount: Up to $10 million
  • Repayment: Interest-only, payable monthly
  • Loan fees: Up to 2% of loan amount plus legal fees
  • Collateral: Bridged receipts and/or real estate collateral
  • Recourse: Full recourse

Mini-Permanent and NMTC Leverage Loans

  • Purpose: Available for acquisition/refinance of operating housing and community facility properties, including NMTC leverage loans. May also be paired with a construction loan for the development of a new or rehabilitation of an existing property.
  • Eligible projects: Rental housing, for-sale housing, mixed-use projects, community facilities, solar, and commercial facilities
  • Term: 5 to 7 years
  • Loan amount: Up to $8 million
  • Repayment: Amortizing payments based on period of up to 25 years, payable monthly
  • Loan fees: Up to 2% of loan amount plus legal fees
  • Collateral: Senior lien on real estate/assignment of Investment Fund interest in CDE(s) with LTV of up to 75%
  • Recourse: Full recourse

Permanent

  • Purpose: Available for the long-term financing or refinancing of acquisition, construction, and renovation projects
  • Eligible projects: Rental housing, for-sale housing, mixed-use projects, community facilities, solar, and commercial facilities
  • Term: 7+ years
  • Loan amount: Up to $10 million
  • Repayment: Amortizing payments based on period of up to 30 years, payable monthly
  • Loan fees: Up to 2% of loan amount plus legal fees
  • Collateral: Senior lien on real estate 
  • Recourse: Non-recourse with carve outs 

In addition to utilizing our own funding, ECLF originates loans with a programmatic or geographic focus in partnership with private and public city, county, and state resources:

  • Atlanta, Atlanta Equitable Transit Oriented Development
    • Fund for predevelopment and acquisition loans for workforce housing near MARTA stations, the Atlanta Streetcar, the Atlanta Beltline, and other modes of transit, in partnership with the city of Atlanta
  • Denver, Denver Regional Transit-Oriented Development Fund
    • Fund for the acquisition of land and preservation of existing affordable housing located near current or future rail stops in Greater Denver, in partnership with the Colorado Housing Finance Agency, the city of Denver, and the Urban Land Conservancy
  • New York City, NYC Acquisition Fund
    • Fund for flexible bridge loans to support affordable housing preservation in New York City, in partnership with the city of New York and local foundations
  • Los Angeles, New Generation Fund
    • Fund for predevelopment, acquisition, preservation, and rehabilitation loans in the city of Los Angeles, in partnership with the city of Los Angeles
  • Los Angeles, Metro Affordable Transit Connected Housing Program
    • Fund for predevelopment and acquisition loans for affordable housing in Los Angeles County, in partnership with the LA County Metropolitan Transit Agency and local foundations
  • San Francisco, Transit Oriented Affordable Housing Fund
    • Fund for predevelopment and acquisition loans for the development of affordable housing, community services, fresh food markets, and other neighborhood assets near transit lines throughout the Bay Area, in partnership with the Metropolitan Transportation Commission and local nonprofits
  • San Francisco, Bay Area Preservation Pilot
    • Fund for predevelopment and acquisition loans for the preservation of unsubsidized multifamily housing considered affordable to renters with low and moderate incomes located near transit, in partnership with Metropolitan Transportation Commission
  • Seattle, Regional Equitable Development Initiative Fund
    • Fund for acquisition loans for multifamily affordable rental or for-sale housing and community facilities along transit corridors, or for land to be acquired for the purpose of producing these community assets, in partnership with the jurisdictions of King County, Washington
  • Washington D.C., Preservation Pool
    • Fund for predevelopment and acquisition financing for the preservation of affordable housing, in partnership with the District of Columbia government
  • California, Golden State Acquisition Fund (GSAF)
    • Fund for predevelopment and acquisition loans for affordable housing in California, in partnership with the California Department of Housing and Community Development
  • National, Equitable Path Forward Growth Fund
    • Fund for entity-level capital in the form of unsecured, low-cost working capital and predevelopment financing to BIPOC developers nationwide
Contact Us
Connect With A Local Lender
Mid-Atlantic, Baltimore, DC, Ohio

Contact Sharon Bollers

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Illinois, Michigan

Contact Idaima Robles

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Northeast

Contact Sivan Bentt-Bruce

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Southeast and Gulf Coast

Contact Ryan Fleming

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Northern California

Contact Eve Goldstein-Siegel

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Southern California

Contact Stephanie Barrett

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Rocky Mountain

Contact Joseph Mattingly

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Pacific Northwest and National, including Rural

Contact Jonathan Clarke

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Investors

We’ve invested $2.9+ billion in communities that lack access to traditional sources of capital. Your investment helps build good homes with affordable rents, as well as schools, health care centers, and community facilities.

How to Invest

Every dollar you invest with us leverages public and private funds—increasing the impact of your investment. We offer three ways to invest.

  • Enterprise Community Impact Note: A unique opportunity to make a socially responsible investment that changes lives — while earning a financial return.1 
  • Direct Loan – term loans, revolving lines, Equity Equivalent (EQ2), or recoverable grants – Loan directly to ECLF: Structured to your needs and our borrowers’ needs.
  • Grants: Grants provide the deepest level of investment by providing a 5 to 1 multiplier effect for lending — 100% of grant proceeds support lending opportunities. For the greatest leverage, we work with grant investors to maximize their impact goals.
Invest Term loan, Revolving Line, EQ(2), and Recoverable Grant Fixed Income Security (Impact Note)
Minimum Investment $3 Million $5,000
Structure Negotiated Agreement Investment that is governed by a Prospectus
Type Term loan or Revolving Line of Credit, EQ2 or Recoverable Grant Fixed Income Security
Term Minimum of 3 years, longer terms preferred A variety of terms are available, see current terms
Interest Rate Fixed, negotiated Fixed, see current interest rates
Interest Payments Varies (Annually, Quarterly, or Monthly) Annually, may elect to capitalize interest
CRA Eligibility Yes Yes
Geographic or Programmatic Targeting Yes Yes
Reporting Audited and unaudited financials, other reporting as negotiated Audited and unaudited financials, Impact Reporting

Risk Management

We couldn’t ensure the strength of your investment for the long haul without our dedicated Asset Management team and our on-the-ground insights on local markets. Over our 42+ years of operating history, we have mitigated and managed credit risk with an incredibly low level of losses. We manage risk through disciplined loan and capital structuring, and rigorous credit policies and processes.

CDFI investors include:

  • Individual impact investors
  • Institutional impact investors
  • Philanthropic individuals
  • Foundations
  • Religious organizations
  • Nonprofits
  • Insurance companies
  • Banks
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Impact Assets 50 2024 Emeritus Manager

Named to the ImpactAssets 50 as an Emeritus Impact Manager.*

*This list should not be interpreted as a statement as to the risks or suitability of an investment in securities issued by ECLF.

Learn about the Enterprise Community Loan Fund Sustainability Bond Framework.
Read our white paper CDFIs and the Capital Markets: Trends in Investment & Impact Measurement, co-authored by Enterprise and LISC. (Photo courtesy of LISC. Photo credit: Jenna Boss)
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ECLF Project Profiles Year End 2023 notated on a map of the United States with a blue icon
Learn about our ECLF Project Profiles, a resource that shares ECLF project profiles and investment information by state. Project profiles are presented in alignment with the ECLF Sustainability Bond Framework and UN Sustainable Development Goals.

Counter Racial Inequities in Housing

Equitable Path Forward is a five-year, $3.5 billion initiative to help dismantle the legacy of racism in housing. Investments support Black, Indigenous, and people of color (BIPOC), and other housing providers who have been historically marginalized.

Investor Spotlight

Veris Wealth Partners

Veris Wealth Partners serves as an investment advisor to endowments, foundations, and high-net worth individuals and families with the aim of meeting both their financial and impact investing goals. Through the Enterprise Community Loan Fund, Veris’ clients have been able to invest in communities throughout the U.S. to align their investment with their mission.

The Enterprise Community Impact Note is an intentional and innovative solution that allows our clients the ability to allocate their capital to advance racial equity and provide access to affordable housing, healthcare, and education in under resourced communities.

Roraj Pradhananga, Co-CIO, Veris Wealth Partners
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A slotted gated door with a window at the end of a hallway with colorful murals painted on both walls
Enterprise Community Impact Note
Offers a unique opportunity to make socially responsible investments that change lives today — while earning a financial return.*
A man at a wall with rose bushes and part of a building in the background.
Social Return on Investment Report
Explore success stories and metrics from our impact investing platform. This report is part of our commitment to providing transparent and measurable accounts of our work.
Contact an Investment Specialist
CDFI Investments

For investments in our CDFI, contact Charlotte Crow.

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Impact Note Investments

For investments in our Impact Note, contact Anna Smukowski

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*Investment Specialists do not provide investment advice and cannot assist you with determinations as to whether an investment in our Impact Notes is suitable for you. In making an investment decision, investors must rely on their own examination of ECLF and the terms of the offering, including the merits and risks involved. For investments in the Impact Note, see the prospectus for further details.

1The Enterprise Community Impact Notes are unsecured debt securities subject to terms, conditions, and risks, described in our prospectus, including the risk of possible loss of the amount invested. Payment is dependent on Enterprise Community Loan Fund’s financial condition at the time payment is due. This is not an offer to sell you our securities, and we are not soliciting you to buy our securities. We will offer and sell our securities only in states where authorized. The offering is made solely by the prospectus, which should be read before investing. The Enterprise Community Impact Notes are not FDIC or SIPC insured.

NON-DISCRIMINATION STATEMENT AND CIVIL RIGHTS INFORMATION Any person eligible to receive benefits or services from the Department of Treasury – Community Development Financial Institutions (CDFI Fund) or its recipients is entitled to those benefits or services without being subject to prohibited discrimination. The Office of Civil Rights and Equal Employment Opportunity (OCRE) enforces various federal statutes and regulations that prohibit discrimination in CDFI Fund financially assisted and conducted programs or activities. If a person believes s/he has been subjected to discrimination and/or reprisal because of membership in a protected group then s/he may file a complaint with: Director, Office of Civil Rights and Equal Employment Opportunity, 1500 Pennsylvania Ave, N.W., Washington, DC 20220 or crcomplaints@treasury.gov.

To access Enterprise Community Loan Fund's Language Access Plan, please download the plan.

 

Meet Our Team