TRF Core Loan Fund

Since 1986, TRF’s core loan fund has brought together investments (loans at a fixed rate) from a broad mix of investors ranging from socially-minded individuals, religious institutions, foundations, financial institutions and others. This fund finances homes, schools, food retail and other community amenities primarily for low-wealth people and places throughout the mid-Atlantic. One of the nation’s top rated CDFIs (CARS AAA+1), TRF is a leader among CDFIs and among the few that attracts investments of all sizes, building its civic network and financial base.

Financial description

Each investor will receive a Promissory Note as evidence that the named investor has made a loan of a specific amount to the Fund. Interest on the loan shall be due and payable annually on the date specified on the Promissory Note. Unless an investor elects to receive payment in full of the principal amount of its Promissory Note at maturity, the principal amount of an investor’s Promissory Note will be reinvested in a new promissory note of the same duration having the terms and conditions, including interest rate, then in effect for the promissory notes that the Fund is then selling.
The Promissory Notes are unsecured obligations of the Fund and do not contain any restrictive covenants limiting the Fund’s ability to make payments on other indebtedness, incur additional indebtedness (including additional secured indebtedness), make loans to or investments in its affiliates or otherwise limit the Fund’s operations or financial condition.
The Fund intends to use the net proceeds from the offering for the purpose of making loans to and/or equity investments in organizations and businesses working to alleviate poverty, build wealth and create economic opportunity for low wealth communities and low-and moderate-income individuals primarily in Pennsylvania, New Jersey, Delaware, Maryland, and Washington DC.