Ecological Revolving Loan Fund (ELF)
- Term of Loan*
ELF Loans are for 18 months, 3 years or 5 years
You select your own term!
- Interest Rates*
Interest rates are from 0% to 5% simple-interest. Interest on loans under $5,000 is paid annually while interest on loans over $5,000 is paid quarterly (every three months). Principal is paid at the end of the loan period.
You select your own interest rate!
- Loan Amounts*
Loan amounts start at $5,000.
You select the amount that suits you!
- Use of Loan Monies*
Your loan will be used for eco-retrofitting of existing CRSP owned properties within L.A. Eco-Village, acquisition of new properties, and new green business development to provide livelihood opportunities for people who live in L.A. Eco-Village.
- Loan Security and Payback Sources*
Loans are made to CRSP (ELF) and are not generally recorded as liens against any property, which CRSP now owns or might purchase. Loans are secured by a loan agreement. Loans are paid back from rents, future mortgages, new loans coming into the ELF, or some combination of the above. Contact CRSP for details.
- Talk with Others Who Have Loaned*
You are encouraged to talk with other lenders to the ELF, and ask them about their process in making the decision to loan. Contact Lois (213/738-1254) for a phone list or email addresses and phone numbers of other lenders.
- Loan Agreement*
Call or write CRSP for a sample loan document, 213/738-1254. Feel free to revise it as it suits your needs.
- Where to Send Checks*
Checks should be made out to CRSP/ELF and sent to: 117 Bimini Place #221, Los Angeles, CA 90004. Electronic transfers can also be arranged.