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Mercy Loan Fund
1999 Broadway, Suite 1000Denver CO, 80202
Incorporated in 2002, Mercy Loan Fund provides financing for non-profit housing developers who, in turn, create and/or preserve single-family and multi-family housing for low-income people
CDFI Awards for Mercy Loan Fund
NMTC (2009) - $20,000,000
Mercy Loan Fund (MLF) contributes to the business strategy of its Controlling Entity, Mercy Housing, Inc. (MHI) by providing commercial loans to complement affordable housing projects. The flexibility allowed by its NMTC allocation will fill financing gaps in commercial components of mixed use developments, commercial office space, and low-income health clinics in some of the most challenging communities in the country. Proposed projects will serve as catalysts for broader revitalization strategies that are focused on leveraging larger private investment into highly distressed areas.
TA (2008) - $100,000
FA (2004) - $203,300
Mercy Loan Fund will use the award to provide multi-family and single-family short-term loans and multi-family permanent loans that benefit the low-income targeted population on a national scale.
FA (2003) - $275,000
The CDFI Fund"s $275,000 award will help MLF achieve three priorities: to grow and diversify its capital base in order to absorb different risks and support future growth; increase MLF"s loan assets by growing annual loan volume in our core business of serving as a gap lender for affordable housing developers in geographically diverse markets; and provide innovative products in "challenging" markets, with a particular emphasis on rural and Native American communities. Approximately 29% of this award will be targeted to Hot Zones.
CORE (2002) - $1,272,000
In addition to serving existing markets, the CDFI Fund"s loan and grant will allow MLF to implement pilot loan programs for both rural and Native American communities. An Award Financial Grant of $250,000.00,the Award Financial Loan for $1,000,000.00,and $22,000 technical assistance grant will further the organization"s capacity with the development of a capitalization plan, the creation of an impact assessment tool and assessment of organizational structure.
Other Community Development Financial Institutions in Colorado
Colorado Housing Enterprises, LLC
Westminster
Funding Partners for Housing Solutions
Fort Collins
Hospitality Fund I
Denver
Hospitality Fund II, LLC
Denver
La Plata Homes Fund, Inc.
Durango
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