First State Community Loan Fund

Loan Products and Services

Business Savers!

The Business Savers! Program is an Independent Development Account administered by First State Community Loan Fund that allows participants to save for a specific purpose. Business Savers! Is an IDA for early stage entrepreneurs who want to save money for business use (i.e., inventory, marketing, leasehold improvements, etc.) Participants in the Business Savers! Program receive a $2 match for every $1 they save. Call First State Community Loan Fund to find out more about the program and how you can participate. 302-652-6774. Download Brochure

Technical Assistance

Technical Assistance is a key part of the services provided by First State Community Loan Fund. Technical Assistance services are provided to MicroLoan and Business Growth Loan candidates and clients. Pre-Loan Technical Assistance is provided to ready entrepreneurs to apply for a loan. This could include assistance with credit issues, loan packaging and business development services. Post Loan Technical Assistance is provided to clients after they receive a business loan from First State CLF, including guidance with accounting and marketing issues and other business growth concerns. Technical Assistance services are provided by Technical Assistance Coordinators, Community Lending Officers and Consultants. To learn more about First State CLF's Technical Assistance services call 302-652-6774 or 1-800-652-4779 or email jcarmona@firststateloan.org.

MicroLoans

First State CLF's MicroLoan Fund provides loans for small business start-ups and expansions.

  • Loan size is from $5,000 to $50,000 with a three year maximum term
  • Loan Uses: Most business purposes are eligible, including working capital, equipment and inventory
To learn more about First State CLF's MicroLoan Lending Program contact a Community Lending Officer at 302-652-6774 or 1-800-652-4779 or click here for an information request form. Loan rates and terms may change, so be sure to check frequently.

Business Growth Loans

First State's Business Growth Loan Fund provides loans for existing businesses that need more capital than a MicroLoan. First State CLF will consider start-up businesses under this program; however most Business Growth borrowers have been in business at least a year. Loans are repaid over a five year period.

  • Loan Size is from $50,000 to $150,000 with a five year maximum term
  • Loan uses: Most business purposes are eligible, including working capital, equipment and inventory

To learn more about First State CLF's Business Growth Lending Program contact a Community Lending Officer at 302-652-6774 or 1-800-652-4779 or click here for an information request form. Loan rates and terms may change, so be sure to check frequently.

Community Development Loans

Breaking Down Barriers and Building Up Communities is the goal of First State CLF. First State CLF's Community Development Loan Fund provides capital for community based projects, nonprofit organizations and community facilities like daycares.

  • Loan Size is up to $500,000 with a five year maximum term
  • Loan Uses: Working capital, leasehold improvements, construction, real estate

To learn more about First State CLF's Community Development Lending Program contact a Community Lending Officer at 302-652-6774 or 1-800-652-4779 or click here for an information request form. Loan rates and terms may change, so be sure to check frequently.

Affordable Housing Loans

First State CLF's Affordable Housing Loan Fund provides financing to nonprofit and for profit developers for the development of affordable housing.

  • Loan Size: Up to $500,000 with a five year maximum term
  • Loan Uses: Acquisition, new construction, renovation, bridge and gap financing
To learn more about First State CLF's Affordable Housing Lending Program contact a Community Lending Officer at 302-652-6774 or 1-800-652-4779 or click here for an information request form. Loan rates and terms may change, so be sure to check frequently.