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FAQ

Q.
How do I support HCLF?

Learn more about making a capital investment in HCLF here. Click here to make a tax-deductible contribution to support HCLF's work. If you have further questions, or would like to speak with someone in person, you may contact us here.

Q.
What is a CDFI?

A Community Development Financial Institution is a financial intermediary (an institution which channels money from investors to borrowers) dedicated to working in markets that are underserved by traditional banks.  CDFIs are certified by the US Treasury.   Learn more

Q.
What are HCLF’s sources of capital?

HCLF lends its own equity and debt capital obtained from socially-minded investors including banks and other financial institutions.  HCLF's work is also supported by grants and donations from individuals, foundations, businesses and the government.

Q.
What does HCLF finance?

HCLF seeks to provide financing that helps achieve its mission of benefitting the low wealth residents of the city of Hartford or other markets HCLF serves.  HCLF's financial products were developed from listening to the input of our community.

We offer loans for the purchase and rehabilitation of residential or mixed-use properties located in HCLF's investment area; loans to help people build credit; and loans to help refinance property tax liens.

Q.
What other services does HCLF offer?

HCLF provides technical assistance to borrowers and policy expertise on issues impacting our neighbors.

Q.
Where does HCLF work?

HCLF does most of its lending in HCLF's investment area.  HCLF Construction Rehab Loans are for properties located in the City of Hartford or other communities as determined by its Board of Directors. Credit Builder borrowers need to be residents of Hartford.

Q.
How do I apply for an HCLF loan?
Q.
How long does the underwriting process take?

Contact us as soon as possible if you have an upcoming financing need.  We can help you put together a loan application, and give you an underwriting and credit determination schedule based on your financing timeline.  Schedules may vary.  

The HCLF Loan Committee meets approximately every two weeks to review application recommendations for Construction Rehab and Tax Lien Refinance Loans, and transactions can often close within 30 days following the submission of a completed application package.  

Contact us to discuss your particular needs and we can provide you with an estimated schedule based on your unique circumstances.

Q.
My project requires funds less than or greater than HCLF’s loan limit. Can HCLF still help?

Contact us!  We can partner with other financial institutions for larger requests and make every effort to customize our financing to the needs of our customers.

Q.
How much does a loan cost?

As a not-for-profit lender that is committed to providing just & affordable financial services, our costs will always be competitive and reasonable.   Consultations are always free and technical assistance for borrowers is provided without cost.  Contact us for more information.

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