To address the changing needs of our clients in this challenging economy, the Board of Directors of Community Vision has increased our maximum loan size to $2 million and extended our loan terms up to 10 years. We believe these changes in our loan terms will not only reduce the costs and risk to our borrowers, but help our nonprofit clients serve their communities better. Increased loan sizes with longer terms will also help fund larger scale projects, which in turn serve more people in the community.
“With few permanent financing sources available to nonprofits, we launched this new program to help organizations build visionary projects to strengthen low-income communities,” said Ross Culverwell, director of lending, “Now is the time to make innovative investments to ensure the long-term health of the nonprofit sector.”
Community Vision is dedicated to ensuring our clients have access to the capital they need to revitalize the communities they serve. With larger loan amounts and longer loan terms available, that access has become even easier.