ELF Loans are for 18 months, 3 years or 5 years
You select your own term!
Interest rates are from 0% to 5% simple-interest. Interest on loans under $5,000 is paid annually while interest on loans over $5,000 is paid quarterly (every three months). Principal is paid at the end of the loan period.
You select your own interest rate!
Loan amounts start at $5,000.
You select the amount that suits you!
Your loan will be used for eco-retrofitting of existing CRSP owned properties within L.A. Eco-Village, acquisition of new properties, and new green business development to provide livelihood opportunities for people who live in L.A. Eco-Village.
Loans are made to CRSP (ELF) and are not generally recorded as liens against any property which CRSP now owns or might purchase. Loans are secured by a loan agreement. Loans are paid back from rents, future mortgages, new loans coming into the ELF, or some combination of the above. Contact CRSP for details.
You are encouraged to talk with other lenders to the ELF, and ask them about their process in making the decision to loan. Contact Lois (213/738-1254) for a phone list or email addresses and phone numbers of other lenders.
Call or write CRSP for asample loan document, 213/738-1254. Feel free to revise it as it suits your needs.
Checks should be made out to CRSP/ELF and sent to: 117 Bimini Place #221, Los Angeles, CA 90004. Electronic transfers can also be arranged.
For more information, contact Lois Arkin at CRSP, L.A. Eco-Village, 117 Bimini Place #221, Los Angeles, CA 90004, 213/738-1254, fax: 213/386-8873, email: crsp@igc.org