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Contractor Loan Fund Inc

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Nonprofit Overview

Causes: Financial Institutions

Mission: A coalition of local governments,not-for-profit organizations, and small to large private sector businesses committed to build a more inclusive region. (see schedule o)clf partners have pooled their financial and technical business resources to make construction and expansion loans to minority and women owned businesses to facilitate their greater participation in construction projects throughout the region.

Programs: Loan program: contractor loan fund, inc. (clf) provides loans to city of st. Louis certified minority/women business enterprises (m/wbes). The maximum loan commitment to any borrower is generally $1million. As of december 31, 2017, clf has 21 loans outstanding with gross loan balances of $2,607,745. 68.

technical assistance program: clf coordinates technical assistance and applicant assessments for m/wbes. Technical assistance includes: * legal * accounting * surety and bonding * financial education * hr * training * advice from other professional resources in 2017, 19 assessments were completed. Assessments involve: * meeting with the potential borrower, * learning about their history and area of construction expertise, * reviewing basic financial statements with applicant, * evaluating areas of improvement (mentoring, bidding, insurance, financial reporting, etc. ), and * answering questions and providing advice as needed.

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