Community Development Financial Institution (CDFI) Requirements


Small and midsize businesses meeting the following criteria are encouraged to contact WPFSI to discuss eligibility for CDFI Loans:

  • WPFSI will loan to single person businesses or larger
  • We will work with businesses that generate any or no revenue.
  • We will work with startups.
  • We lend to businesses within a 35-mile radius of Philadelphia (Trenton-Wilmington).
  • Priority is given to businesses that are located in a low-to-moderate income census tract or primarily employ low-to-moderate income individuals. (Minority & women-owned businesses)


Available either for new projects or refinancing of existing debt related to:

  • Working capital
  • Machinery and equipment purchases
  • Building improvements
  • Leasehold improvements
  • Real estate acquisition & construction (speculative real estate ventures are not eligible)


Working Capital and Equipment Loans are available as a senior or subordinate loan product with the following terms:

Loan Amount$1,000 to $100,000
Interest RatePrime rate plus 300 basis points.
Equity RequiredVaries based on the use of funds.
UnderwritingCombination of credit, cash flow, collateral, financial position, management capacity, and industry risk.

Timing and Procedure

The applicant submits a completed application to WPFSI for staff review, at which time a thorough credit analysis is performed.  For applications that receive a positive credit evaluation, the loan is presented to the WPFSI Loan Committee and the Board of Directors.  Following loan approval, WPFSI issues a commitment letter to the applicant. Settlement of the loan may occur once the terms of the commitment letter are satisfied. 


Fees will vary with each transaction and generally include:

Application$125.00 depending on loan size – nonrefundable fee, payable at time of application submission.
ClosingRanges depending on loan size (does not include third-party costs such as appraisals, construction monitoring, and UCC filings). Fees are subject to change.