The Rising Tide Community Loan Fund
with the Community in Mind
A federally-certified Community Development Financial Institution
1337 East 5th Street
Bethlehem, PA 18015
A Subsidiary of the Community Action Committee of the Lehigh Valley, Rising Tide helps build economic opportunity accross the Lehigh Valley by providing affordably priced credit products to small businesses and prospective entrepreneurs.
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Rising Tide Community Loan Fund (RTCLF), a subsidiary of the Community Action Committee of the Lehigh Valley, with offices in Bethlehem and Easton PA, is a 501 (c) (3) non-profit Community Development Finanical Instititution (CDFI).
The mission of Rising Tide Community Loan Fund is to identify small business and community development credit needs that may stifle the creation of economic opportunity in low-to-moderate-income communities of the Lehigh Valley and to meet those needs with affordable credit products.
Established in 2001, Rising Tide was created to meet a need in the community for accessible financing options to business owners whose risk factors make it difficult to obtain funds from traditional lenders. RTCLF serves prospective, start-up, and established businesses in Lehigh and Northampton counties by providing a full range of one-to-one business counseling and micro-loans to business owners where resources and opportunities for growth are limited.
Proceeds from a RTCLF micro-loan may be used for lease-hold improvements, the purchase of equipment/machinery, marketing costs, working capital, and inventory purchases. RTCLF also provides technical assistance to businesses or prospective entrepreneurs by providing one on one counseling on a range of topics including business-plans, cash flow analysis and projections, marketing, and business counseling on an as-needed basis. Through partnerships with Community Action Development Corporations in Allentown and Bethlehem, individuals may also take advantage of a 20-week series of “Start Your Business” classes.
Rising Tide is funded through loans, grants, and private contributions. Sources include local, state and federal government, banks, businesses, and individuals.
As of May 2009, Rising Tide has awarded $1,125,442.49 in 63 small business loans to 56 different businesses. These loans have led to the creation of at least 93 jobs and the retention of at least 69 jobs. RTCLF’s current portfolio consists of 33 loans, with $560,951.41 outstanding principal balance. Loans have been made to a variety of businesses including day cares, restaurants, art galleries, retailers, professional service providers, and more.
For information on making an investment or contribution to the program, to seek assistance, or to apply for a micro-loan, please contact us at 484-893-1039.