Serving Our Community: CHEFA’s Revolving Loan Fund Expands to All Nonprofits

In 2023, CHEFA’s Revolving Loan Fund Program was modified to serve all nonprofits in Connecticut. In prior funding cycles, only existing CHEFA clients were eligible for financing through this Program. This year we closed two loans with nonprofits that had no prior financing relationships with CHEFA: Silvermine Guild of Artists, Inc. of New Canaan, CT and 4-H Education Center at Auerfarm, Inc. of Bloomfield, CT. Both organizations benefited from the affordable financing terms of the Program for financing critical capital needs. Funding is still available for capital projects and applications can be submitted at any time. The Program offers loans up to $50,000 for a rate of 3.75% over 60 months.

If your organization is interested learning more about this Program and how it could address your financing needs, please contact Dan Kurowski, Manager of Program Development at dkurowski@CHEFA.com.