CHEFA Approves Expansion of Capital Investments Loan Program

CHEFA’s Board of Directors recently approved an amendment to the Capital Investments Loan Program (CILP), expanding access to affordable capital for Connecticut’s nonprofit organizations.

The approved amendment increases the maximum loan amount exception for non-CHEFA clients—organizations without an outstanding CHEFA bond issuance—from $200,000 to $500,000, subject to enhanced financial performance standards and approval by CHEFA.

Responding to Growing Capital Needs
CHEFA’s Capital Investments Loan Program is a flexible, low-cost financing tool for Connecticut nonprofits investing in mission-critical capital projects. In recent funding cycles, CHEFA has heard consistently from applicants whose capital needs exceed the program’s traditional loan cap.

This amendment directly addresses this need by enabling qualified organizations to finance larger-scale projects through CILP that advance the commerce, welfare, prosperity, health, and living conditions of the state’s residents.

Click here for more information on the Capital Investments Loan Program.