Economic Development
Impact Loan Fund (ILF)
With a mission to improve access to capital for smaller area businesses and stimulate job growth for Philadelphians, Impact Loan Fund received U.S. Treasury Department certification as a Community Development Financial Institution (CDFI) in 1999.
Serving 27 Census Tracts in the northeastern area of Philadelphia, ILF has worked persistently to build its service level and capital base. Leveraging Impact’s extensive work with area Business Associations and its intimate knowledge of local needs and opportunities has made it an effective collaborator with other area development agencies like the Philadelphia Industrial Development Corporation.
Since inception, Impact Loan Fund has worked with 15 firms and assisted in bringing 54 new jobs to the target community and helping to retain 247 existing jobs.
Impact Loan Fund will entertain loan requests for micro loans and small business loans from $3,000 to $100,000. Financing will be provided to fund the purchase of equipment, inventory, leasehold improvements or repairs, or for working capital. The financing must result in the creation or retention of jobs, the creation of new enterprises or improve the overall business environment in the Investment Area.
If you are a small business operating in the ILF Service Area and require financing for a new project or business expansion please contact Roy G. Viehweger, Program Director at 215-423-2944 ext. 137. An application is attached for your use.
Sincere thanks to Wachovia Bank, Bank of America, Sovereign Bank and the Community Development Financial Institutions Fund (CDFI) for their support.
Blasius Chocolate Factory
Heaven for dark chocolate fans and a mad house at the holidays, Blasius has been satisfying cravings since 1926.
HIGHLIGHTS
U.S. Treasury/CDFI awards ILF a $150,000 expansion grant