CLF borrowers may be new or existing for-profit corporations, partnerships, and / or sole proprietorships engaged in the general construction industry.
Loan decisions will be primarily based on the owner’s personal credit and employment history. The ability of the applicant to repay the loan, employment history, credit history, and assets will be evaluated.
CLF loan funds may be used for the following purposes:
The maximum loan commitment to any borrower, or borrowers related by common ownership, may not exceed $1,000,000 at any time, unless approved by the Board of Directors.
The CLF Board of Directors establishes lending authority. Loan commitments of $100,000 or less may be approved by the Loan Service Provider. Loan commitments in excess of $100,000 are approved by the CLF loan committee. All loan commitments in excess of $500,000 also must be approved by the CLF Executive Committee. All loan approvals will be ratified by the board of directors at its regularly scheduled meetings.
An applicant will submit an application to one of the following “Loan Service Providers”:
All information submitted to the CLF will be confidential and held in strict confidence.