Common
Wealth Revolving Loan Fund (CWRLF), founded in 1987, is a non-profit community
development financial institution whose purpose is to lend money to employee-owned
companies or co-ops for expansion, facilities, machinery and equipment, vehicles,
and working capital or for employee-buyouts. CWRLF serves borrowers located in
Ohio and the nearby areas of contiguous states. The OEOC has been administering
the Loan Fund since 2004.
Currently,
CWRLF can make direct loans to borrowers for amounts up to $80,000 and, with our
partners, a single borrower can obtain loans for amounts up to a total of $500,000.
As the size of the Loan Fund grows, these loan limits will increase.
Loan interest rates
will be competitive and, most likely, advantageous to borrowers.
CWRLF is funded through
Social Investment Notes with loans made at below market rates by individuals,
corporations, foundations, and religious organizations, and is a member of the
National Association of Community Development Loan
Funds.
CWRLF loans to democratically
owned and managed for-profit businesses, such as cooperatives or ESOPs, and to
nonprofit community based groups for projects or facilities.
For
information and more details, contact Bill McIntyre, Loan Fund Coordinator, at
330-672-0332 (direct) or 330-672-3028 (general) or bmcinty2@kent.edu.
For more information
check out:
Flyer
Complete general
information on CWRLF
Loan
application form
Invest to CWRLF
