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COMMUNITY DEVELOPMENT LOAN FUND

Investing in our communities.

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Financing for Valuable Community Development Projects

The Heritage Bank Community Development Entity (CDE) finances businesses in economically distressed areas, breathing new life into neglected and underserved communities.
We hold the uncompromising belief that the answer to community prosperity is driven by diverse groups of people, including those in underserved communities. Importantly, issues of equity continue to affect many Americans, especially minority- and women-owned businesses. As such, we seek to provide services, investments and loans that fulfill our communities' credit needs.
 

About the Heritage CDE Loan Fund

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We're using our own capital to make loans to businesses operating in these communities on better rates and terms with more flexibility than the market. In alignment with our commitment to the communities we serve, we intend for these loans to revitalize development by creating jobs and increasing the availability of goods and services in economically distressed areas.

Benefits include:.

  • Below-market fixed rates*
  • Lower origination fees
  • Lower debt coverage ratios
  • Longer maturities
  • 7 years of interest-only payments

*Target interest rate of the Seven Year Federal Home Loan Bank Rate plus 1.75%, subject to change based on project risk and changes in market interest rates.

 
Does your project fall within an approved geographic area?

Click here to launch the NMTC mapping tool and search for the address of your project location.

How does the program compare to conventional financing?

See a financing comparison (PDF).

Why choose the Heritage CDE Loan Fund?

A unique strategy

As one of only a handful of CDEs in Washington and Oregon that's able to facilitate these loans, we can offer better rates and terms with more flexibility than the market.

Encouraging revitalization

Businesses that qualify for a loan through the program must offer accessible jobs to ensure the local community members are benefiting from the project.

Expert guidance

We understand the decision-making process that businesses go through when deciding how to grow and where to locate.

 

Washington State Small Business Credit Initiative

The Washington State Small Business Credit Initiative (SSBCI) provides much-needed capital to small businesses and nonprofits throughout Washington, particularly those in historically underserved and under-banked communities. SSBCI is administered by the Washington State Department of Commerce in partnership with the U.S. Department of Treasury and financial institutions statewide.
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HBCDE, LLC, a subsidiary of Heritage Bank, has been certified by the Community Development Financial Institutions Fund of the United States Department of Treasury as a Community Development Entity to provide loans, investments and services to economically distressed areas.

Learn more.

See what we are doing in our communities.

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