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Mile High Community Loan Fund

Mile High Community Loan Fund invests in affordable housing and other community assets to improve economic opportunities of low-income persons and communities.

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General Information

General
Official Name
Mile High Community Loan Fund Inc​​​​​​​
DBA/Trade Name(s)
N/A
Former Name(s)
(2007)Mile High Housing Fund
(2001)Denver Neighborhood Housing Fund
Acronym
MHCLF
Date Established
1999
Offers Additional Colorado State Tax Credit
None
Tax ID
84-1505466
Addresses
Headquarters Address
1905 Sherman Street, Suite 210
Denver, CO 80203
Colorado Location
N/A
Mailing Address
N/A
Phone/Fax
Main Phone Number
N/A
Fax Number
N/A
Other Phone Number
303-860-1888
Web/Email
Email
xihuang@mhclf.org
Website
www.mhclf.org
Social Media Links

Mission Statement

Mile High Community Loan Fund invests in affordable housing and other community assets to improve economic opportunities of low-income persons and communities.

Organization History

Mile High Community Loan Fund was formed in 1999 as a community-based non-profit organization to build and administer loan fund that provides difficult to find early stage capital for developers of affordable housing. The City and County of Denver initially capitalized the loan fund and attracted early investments from the Fannie Mae Foundation, Enterprise Foundation and U.S. Bank to leverage their investment.

In its first three years, the organization dramatically increased investor support and broadened its market area to include the seven-county Denver metro area. MHCLF was certified as a Community Development Financial Institution (CDFI) by the US Department of Treasury and received a $1 million grant from the CDFI Fund to further build the loan fund. MHCLF now has 17 loan fund capital investors and a total loan fund of $17.7 million.

In 2005, the Board and staff recognized the unmet real estate project financing needs in the Denver metro area non-profit community. MHCLF began making its existing loan products available to non-profit organizations pursuing facility development projects that serve low-income individuals and communities. Community facility development loans now make up approximately 20% of total loan volume.

In 2007, in keeping with the mission of the organization, the Board decided to expand loan services further into the state by including eight additional counties - El Paso, Pueblo, Larimer, Weld, Clear Creek, Gilpin, Summit, and Eagle. This expansion increased the market area by approximately 1.3 million people. Since the expansion, MHCLF has approved fourteen loans in the expanded market area.

MHCLF lends for a full spectrum of affordable housing and community development projects - including, but not limited to, special needs housing, emergency shelters, transitional housing, food banks, early childhood education centers, charter schools, program offices, as well as affordable rental and for-sale housing projects.

Testimonials

Key aspects of this profile information have been reviewed by Community First Foundation staff. Each organization is exclusively responsible for the content that appears on the profile page. Community First Foundation offers general guidance as to the purpose of each area but does not require or encourage charities to include anything in particular in each section.