| Why
choose the LDC to help fund your project? For some it’s as
simple as avoiding the lengthy, and often complicated, processes
required by many commercial lending institutions. For others, the
LCD funds are part of a larger financial plan that included monies
from various sources. For many small business owners, the LDC may
be their best source of funds.
“The
LDC is truly a nonconventional funding source in terms of how
it operates and how it is willing to search for creative ways
to make deals work,” says Dave Veldman, a former member of
the LDC’s Board of Directors. “We have almost as many
payment plans on our loans as the loans themselves. Because of
our goals, the LDC is willing to take a more aggressive lender
risk, while at the same time, accepting a lower interest rate.
The Board also can act quickly. An applicant can come to us today
and have their loan approved by the next Board meeting.”
Another
advantage to dealing with the LDC is the benefit of working with
an all-volunteer Board of Directors genuinely concerned about
the condition of downtown Fort Collins. The LDC Board members
possess a variety of backgrounds and expertise in such areas as
legal, accounting, real estate development, brokerage, management,
retail sales, municipal and private sector banking, city planning,
and architecture. Board members spend time with applicants to
ensure their applications and financial statements are in order,
and often offer advice in other areas of planning a proposed project.
All of these skills, combined in one Board create a rare and valuable
resource for prospective borrowers and expedite the loan process.
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