42 Pageviews Read Stories
- EIN 23-3079170
- (610) 691-5620
- 1337 E 5th St Bethlehem PA 18015-2103 USA
- caclv.org
- Add to Favorites
Promote This Nonprofit
More Nonprofits
Nonprofit Overview
Causes: Economic Development, Urban & Community Economic Development
Mission: The organization provides loans to small or start-up business ventures, that may not qualify to bank standards thereby improving economically depressed communities.
Programs: The organization provides loans to small or start-up business ventures, that may not qualify to bank standards, to improve the social welfare of economically depressed or blighted neighborhoods of the community. Donor/investors have loaned funds for use in program lending at no or below market interest, having imputed interest value of 2,393. See schedule o for additional information. Made 22 loans: 14 were made to women-owned businesses, ten to minority- owned businesses and 18 to businesses owned by low- to moderate-income individuals and/or were located in low- to moderate-income census tracts. Disbursed 864,400, bringing the total rising tide disbursement to date to over 5. 4 million; the current portfolio is nearly 1. 8 million. Businesses that received loans in 2016-17 were two clothing retailers, two construction companies, a micro brewer, a transportation business, a salon, a quilter, a massage therapist, a florist, a credit restoration business, a barber, an automobile service center, a cell phone retailer, a manufacturer of children's toys, a framing business, a printer, a landscaper, a furniture store, a horse boarding business, a fine art and retail store, and an automobile tire center. These loans resulted in the creation of 22 jobs and the retention of 25 others. In response to demand, the board of directors increased the small business loan limit to 150,000. The rising tide community loan fund is a separately-incorporated subsidiary of the community action committee of the lehigh valley.