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Is my investment in the Loan Fund tax deductible?
Both equity investments and contributions to the Loan Fund's general operations are tax-deductible. Debt capital investment or equity-equivalent investments are not. Financial institutions, however, can receive CRA investment and/or service test credit for either equity, equity-equivalent or debt capital investments. Contributions to the Loan Fund's general operations are tax deductible up to the limit of the law.
When will the Loan Fund pay me interest on my investment?
The Loan Fund pays interest annually on June 30 of each year.
How can I be sure my investment is safe?
The Loan Fund adheres to underwriting and lending policies that ensure financial safety and soundness. To protect the Loan Fund and its investors, it maintains a healthy loan loss reserve and through prudent growth of capital it ensures a safe capital position for investors. Historical loan loss experience is a good indicator of the quality of the Loan Fund's risk. Since inception in 1996 the organization has experienced virtually no loan losses. Please check with us for our current historical profile. The Loan Fund maintains active registration as a charitable organization in the State of Florida, and is a qualified nonprofit organization under section 501(3)(3) of the Internal Revenue Service Code. Loan Fund annual financial audits are available to the public and on its web site. Who else supports the Loan Fund?
Nearly all of Florida's leading banks, state and national foundations, seventeen religious communities and all seven of the Catholic Dioceses of Florida. Even Jimmy Buffet's Singing for Change Foundation is a Loan Fund supporter.
Can I get my investment back?
Yes, upon maturity. All debt investments (essentially loans to the Loan Fund) carry a specific term that is typically 3 to 10 years. The Loan Fund will notify you by letter when your investment prior the maturity date with options to redeem your investment or renew the investment for an additional term.
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