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- EIN 51-0345258
- (302) 652-6774
- 100 W 10th St Ste 300 Wilmington DE 19801-1642 USA
- www.firststateloan.org
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Nonprofit Overview
Causes: Financial Institutions
Mission: First state community loan fund's (fsclf) mission is to educate, empower, and elevate business owners, and entrepreneurs, by augmenting technical expertise, increasing access to capital and stimulating business growth throughout delaware and southeastern pennsylvania.
Programs: During 2017 first state community loan fund made new loans as follows: micro loan fund - $481,650, business growth fund - $1,584,000, community development loan fund - $1,211,500. Small business loans - one of fsclf's primary objectives is providing financing and support services for small business enterprises. Through this program, fsclf creates jobs and builds wealth in emerging markets throughout the state of delaware. Fsclf has two primary small business lending programs - the micro loan fund and the business growth fund. The community development fund focuses on the providing capital for community-based projects, such as mixed-use properties (residential & retial), not-for-profit organizations other than housing developers,child care centers and other community facilities. This fund provides up to $500,000 per obligor with a maximum term of five years. The objective of the community development loan program is to address all other lending that does not fall specifically within the parameters of the affordable housing or small business lending products. Through the community development lending product fsclf is empowered to bring some benefit to a particular community in the form of, for example, a new child care center, a health care provider, or by assisting with the purchase or rehabilitation of office space for a non-profit organization.