Community Impact Loan Fund
Transforming communities by empowering local businesses with access to capital is at the heart of what we do.
Grow America’s family of offerings includes the Community Impact Loan Fund (CILF), which provides specialized loan programs designed to meet the unique needs of small business owners in more than 30 communities nationwide.
Community impact loan fund details
Each loan fund has unique offerings, but in general, feature:
- Loans from $100,000 – $5 million
- Competitive interest rates determined after we evaluate an application
- Terms up to 10 years for general loan uses (such as working capital or equipment purchase) or up to 25 years for real estate purchase
Available in 30 communities nationwide
While businesses anywhere in the United States can apply for a loan with Grow America, those located in the following communities have access to unique loan funds:
Bridgeport, CT
Cincinnati, OH
Cuyahoga County, OH
Delaware State
Detroit, MI
East St. Louis, MO
El Monte, CA
Erie County, NY
Gainesville, FL
Garden Grove, CA
Inglewood, CA
Kent County, DE
Long Beach, CA
Memphis, TN
Morgan Hill, CA
Nassau County, NY
Newark, NJ
New Castle, DE
Norwalk, CT
Port Arthur, TX
Pottawattamie County, IA
San Bernardino, CA
Seaside, CA
Seattle, WA
Sussex County, DE
Syracuse, NY
Tacoma, WA
Tracy, CA
Vallejo, CA
Wilmington, DE
“Now that I own the building, it’s helped my confidence. I don’t have to call the landlord and ask, can I please do this? I’m a shot-caller now. It feels good. I’m able to employ people. You can become a well-paid, tax-paying citizen, it feels good.”
—Waverly Willis, Owner of Urban Kutz and CILF loan recipient
More about the Community Impact Loan Fund
The Community Impact Loan Fund, established in 2016, provides a lending option for businesses who need amounts or requirements different than those offered through the SBA 7(a) program.
CILF focuses on small businesses needing loans as small as $100,000, especially those that are early-stage, owned by women or people of color, or located in low-and moderate-income communities. With our flexible terms and hands-on assistance throughout the life of the loan, we help borrowers develop equity, create jobs, and build community.
We partner with foundations, states, and cities around the country to deliver affordable and accessible funding through CILF. Contact us if you would like to learn more about how to bring CILF to your community.
Community Impact Loan Fund supporters
Ready to fund your next big step?
Apply for a loan with Grow America today, and you could receive a conditional approval within 10 business days.
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Running a successful loan fund takes underwriting expertise, portfolio management, marketing know-how, and more. Grow America brings that expertise to you from day one, so you’re not building it from scratch.