# EDGAR Filing Document

**Accession Number:** 0001582138
**File Stem:** 0001193125-26-234257
**Filing Date:** 2026-5
**Character Count:** 27355
**Document Hash:** 7f2fdcc94de61b238d89c7a6eeeef980
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-234257.hdr.sgml**: 20260521

**ACCESSION NUMBER**: 0001193125-26-234257

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260521

**DATE AS OF CHANGE**: 20260521

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Equalize Community Development Fund
- **CENTRAL INDEX KEY:** 0001582138

**ORGANIZATION NAME:**
- **EIN:** 464014640
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22875
- **FILM NUMBER:** 261008010

**BUSINESS ADDRESS:**
- **STREET 1:** 37 WEST AVENUE
- **STREET 2:** SUITE 301
- **CITY:** WAYNE
- **STATE:** PA
- **ZIP:** 19087
- **BUSINESS PHONE:** 610-337-6500

**MAIL ADDRESS:**
- **STREET 1:** 37 WEST AVENUE
- **STREET 2:** SUITE 301
- **CITY:** WAYNE
- **STATE:** PA
- **ZIP:** 19087

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Bluestone Community Development Fund
- **DATE OF NAME CHANGE:** 20190506

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** 504 FUND
- **DATE OF NAME CHANGE:** 20141028

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PENNANT 504 FUND
- **DATE OF NAME CHANGE:** 20130723

## Nport-Ex

**Equalize Community Development Fund**

**SCHEDULE OF INVESTMENTS**

March 31, 2026 (Unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description, State<sup>(a),</sup><br> Acquisition Date** | **Stated<br> Interest Rate** | **Effective<br> Interest Rate** | **Maturity** | **Cost** | **Principal** | **Fair Value** |
| **Community Development Loans — 103.07%** | **Community Development Loans — 103.07%** | |  | | | |
| **504 First Lien Loans<sup>(b)</sup> — 85.96%** | **504 First Lien Loans<sup>(b)</sup> — 85.96%** | |  | | | |
| **Hospitality Properties — 8.55%** | **Hospitality Properties — 8.55%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;537 Maple Hotel LLC, New Jersey,<br> 10/15/2021 | 5 Year U.S. Treasury + 4.500% (6.000% Floor) | 6.000% | 10/1/2031 | $1966556 | $1904718 | $1631982 |
| &nbsp;&nbsp;&nbsp;Moses Lake Investors, LLC, Washington, 9/18/2014<sup>(c)</sup> | Prime + 2.250% (5.500% Floor) | 9.750% | 10/1/2039 | 810837 | 786749 | 815386 |
| **Total Hospitality Properties** | **Total Hospitality Properties** |  |  |  |  | 2447368 |
| **Multi-Purpose Properties — 77.41%** | **Multi-Purpose Properties — 77.41%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;5205 Orange LLC, Florida, 6/23/2022 | 5 Year U.S. Treasury + 4.500% (5.880% Floor) | 5.880% | 6/1/2031 | 1406924 | 1368925 | 1323066 |
| &nbsp;&nbsp;&nbsp;Acworth Recycling LLC, Georgia,<br> 1/14/2021 | 6.750% (6.750% Fixed) | 6.750% | 12/15/2029 | 285573 | 276859 | 268340 |
| &nbsp;&nbsp;&nbsp;AMAI Properties LLC, Georgia,<br> 3/27/2026 | Prime + 0.500% (5.500% Floor) | 5.500% | 3/24/2032 | 650760 | 639853 | 646251 |
| &nbsp;&nbsp;&nbsp;Budva Properties LLC, Arizona,<br> 8/6/2021 | 5 Year Swap + 5.000% (6.250% Floor) | 6.250% | 7/1/2046 | 1210768 | 1158913 | 1201491 |
| &nbsp;&nbsp;&nbsp;Ceeport Group LLC, Florida,<br> 6/10/2021 | 6.500% (6.500% Fixed) | 6.500% | 3/19/2030 | 531129 | 518044 | 442041 |
| &nbsp;&nbsp;&nbsp;Cookson Holdings LLC, Lloyd's Hardware LLC, Wisconsin,<br> 6/28/2022 | 5 Year U.S. Treasury + 5.000% (6.500% Floor) | 6.560% | 4/1/2032 | 893475 | 860550 | 898174 |
| &nbsp;&nbsp;&nbsp;Dorris Fitness LLC, Georgia, 6/3/2021 | 6.750% (6.750% Fixed) | 6.750% | 1/28/2030 | 501689 | 487097 | 451827 |
| &nbsp;&nbsp;&nbsp;Duane Auto Sale LLC, California,<br> 5/14/2021 | 5 Year Swap + 5.000% (6.250% Floor) | 6.250% | 5/1/2046 | 665361 | 633987 | 604697 |
| &nbsp;&nbsp;&nbsp;Fred Hairabidian, California, 5/3/2022 | 5 Year Swap + 4.750% (5.850% Floor) | 5.850% | 9/1/2046 | 493816 | 468579 | 489777 |
| &nbsp;&nbsp;&nbsp;Grigorian Investments LLC, California, 9/2/2014 | 5 Year SOFR+ 4.500% (6.330% Floor) | 7.643% | 9/15/2039 | 441262 | 429419 | 430183 |
| &nbsp;&nbsp;&nbsp;Jereme Lee James, California, 4/7/2021 | 5 Year Swap + 5.000% (6.500% Floor) | 6.500% | 2/1/2046 | 207953 | 196176 | 203419 |
| &nbsp;&nbsp;&nbsp;JPEG, Inc., Florida, 12/11/2020 | 5 Year Prime + 0.500% (6.500% Floor) | 6.500% | 8/1/2030 | 151341 | 145831 | 147133 |

---

**Equalize Community Development Fund**

**SCHEDULE OF INVESTMENTS (Continued)**

March 31, 2026 (Unaudited)

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description, State<sup>(a),</sup>**<br> **Acquisition Date (continued)** | **Stated<br> Interest Rate** | **Effective<br> Interest Rate** | **Effective<br> Interest Rate** | **Maturity** | **Cost** | **Principal** | **Fair Value** |
| **Multi-Purpose Properties (continued)** | **Multi-Purpose Properties (continued)** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;KES, Inc., Georgia, 12/9/2020 | 6.750% (6.750% Fixed) |  | 6.750% | 12/2/2029 | $447231 | $435470 | $431211 |
| &nbsp;&nbsp;&nbsp;Kiva Holdings and Kiran Fitness LLC, South Carolina, 6/17/2021 | 6.750% (6.750% Fixed) |  | 6.750% | 2/21/2030 | 735357 | 714823 | 700191 |
| &nbsp;&nbsp;&nbsp;Limitless Sun LLC, California,<br> 3/7/2022 | 5 Year Constant Maturity Treasury + 4.450% (5.950% Floor) |  | 5.950% | 2/1/2047 | 649166 | 616270 | 641679 |
| &nbsp;&nbsp;&nbsp;Nexelm LLC, California, 5/4/2022 | 5 Year Constant Maturity Treasury + 4.450% (5.950% Floor) |  | 5.950% | 1/1/2047 | 468553 | 444413 | 457795 |
| &nbsp;&nbsp;&nbsp;Nicholas Holdings LLC, Georgia,<br> 11/8/2022 | Prime + 0.500% (5.500% Floor) |  | 5.500% | 10/22/2031 | 2561603 | 2490504 | 2450282 |
| &nbsp;&nbsp;&nbsp;Nowlin Properties LLC, California,<br> 3/16/2022 | 5 Year Constant Maturity Treasury + 4.000% (5.780% Floor) |  | 5.780% | 3/1/2047 | 1089988 | 1046529 | 1075487 |
| &nbsp;&nbsp;&nbsp;Oaks at Pooler LLC, Georgia,<br> 6/30/2021 | 5 Year U.S. Treasury + 5.250% (6.250% Floor) |  | 6.250% | 4/1/2031 | 5279413 | 5155831 | 5320869 |
| &nbsp;&nbsp;&nbsp;Pinar Truck Inc., Florida, 8/23/2021 | 5 Year Prime + 0.500% (5.500% Floor) |  | 6.000% | 4/23/2031 | 626191 | 613156 | 587231 |
| &nbsp;&nbsp;&nbsp;Royal Foods Mendota LLC, California, 5/6/2022 | 5 Year Constant Maturity Treasury + 4.290% (6.000% Floor) |  | 6.000% | 4/1/2047 | 797176 | 758147 | 724796 |
| &nbsp;&nbsp;&nbsp;Stanley Avenue Realty LLC, New York, 9/17/2014 | 4 Year SOFR+ 3.720% (5.370% Floor) |  | 7.300 %<sup>(d)</sup> | 9/15/2044 | 1586278 | 1586231 | 1601237 |
| &nbsp;&nbsp;&nbsp;STMX Partners LLC, Georgia,<br> 12/16/2020 | 5 Year Prime + 0.500% (6.000% Floor) |  | 8.000% | 10/15/2030 | 476122 | 461563 | 467803 |
| &nbsp;&nbsp;&nbsp;Uncle Pops LLC, California,<br> 4/23/2021 | 5 Year Swap + 5.000% (6.180% Floor) |  | 6.180% | 3/1/2046 | 652889 | 622158 | 595294 |
| **Total Multi-Purpose Properties** | **Total Multi-Purpose Properties** |  |  |  |  |  | 22160274 |
| **Total 504 First Lien Loans (identified cost of $25,587,411)** | **Total 504 First Lien Loans (identified cost of $25,587,411)** | **Total 504 First Lien Loans (identified cost of $25,587,411)** |  |  |  |  | $24607642 |

---

**Equalize Community Development Fund**

**SCHEDULE OF INVESTMENTS (Continued)**

March 31, 2026 (Unaudited)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Description, State<sup>(a),</sup>**<br> **Acquisition Date (continued)** | **Stated<br> Interest Rate** | **Effective<br> Interest Rate** | **Maturity** | **Cost** | **Principal** | **Fair Value** |
| **USDA Rural Development Loans<sup>(b)</sup> — 17.11%** | **USDA Rural Development Loans<sup>(b)</sup> — 17.11%** |  |  |  |  |  |
| **USDA Guaranteed — 4.71%** | **USDA Guaranteed — 4.71%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Bonumose, Inc., Virginia, 11/8/2022<sup>(c)</sup> | 8.700% (7.700% Floor) | 7.700 %<sup>(d)</sup> | 11/7/2028 | $489723 | $472299 | $451891 |
| &nbsp;&nbsp;&nbsp;Roebuck Fire District, South Carolina, 2/25/2022<sup>(c)</sup> | 4.410% (4.410% Floor) | 3.410 %<sup>(d)</sup> | 5/6/2041 | 1017020 | 1003286 | 895854 |
| **Total USDA Guaranteed** |  |  |  |  |  | 1347745 |
| **USDA Non-Guaranteed — 12.40%** | **USDA Non-Guaranteed — 12.40%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Bonumose, Inc., Virginia, 11/8/2022<sup>(c)</sup> | 8.700% (8.700% Fixed) | 8.700% | 11/7/2028 | 306113 | 305148 | 223603 |
| &nbsp;&nbsp;&nbsp;California Custom Processing LLC, California, 3/30/2026 | 7.481% to 3/30/27 then 10 Year Constant Maturity Treasury + 3.350% (7.481% Floor) | 7.481% | 6/13/2052 | 712500 | 712500 | 712500 |
| &nbsp;&nbsp;&nbsp;Clarke Avenue Realty LLC, Delaware, 4/4/2022<sup>(c)(e)</sup> | 5 Year Constant Maturity Treasury + 3.000% (5.340% Floor) | 5.340% | 4/1/2048 | 2887435 | 2883883 | 2480168 |
| &nbsp;&nbsp;&nbsp;Roebuck Fire District, South Carolina, 1/26/2022<sup>(c)</sup> | 4.410% (4.410% Fixed) | 4.410% | 5/6/2041 | 159122 | 156763 | 133488 |
| **Total USDA Non-Guaranteed** |  |  |  |  |  | 3549759 |
| **Total USDA Rural Development Loans (identified cost of $5,571,913)** | **Total USDA Rural Development Loans (identified cost of $5,571,913)** | **Total USDA Rural Development Loans (identified cost of $5,571,913)** |  |  |  | $4897504 |
| **Total Community Development Loans (identified cost of $31,159,324)** | **Total Community Development Loans (identified cost of $31,159,324)** | **Total Community Development Loans (identified cost of $31,159,324)** |  |  |  | $29505146 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Fair Value** |
| **Short-Term Investments — 0.94%** |  |  |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Liquidity Fund - Institutional Class, 3.53%<sup>(f)</sup> | 269504 | $269504 |
| **Total Short-Term Investments (Cost $269,504)** |  | 269504 |
| **Total Investments\* — 104.01% Cost ($31428828)** |  | 29774650 |
| Liabilities in Excess of Other Assets — (4.01)% |  | (1148566) |
| **TOTAL NET ASSETS — 100.00%** |  | $28626084 |

---

<sup>(a)</sup> The states listed correspond to the location of the underlying collateral of the Community Development Loan, which may differ from the location of the borrower.

<sup>(b)</sup> Community Development Loans are restricted as to resale. The cost and fair value as of March 31, 2026 was $31,159,324 and $29,505,146, respectively. Fair value is determined using significant unobservable inputs.

<sup>(c)</sup> Represents an investment in the Community Development Loan through a participation agreement with a financial institution. A participation agreement typically results in a contractual relationship only with a financial institution, not with the borrower.

<sup>(d)</sup> The effective rate is net of a sub-servicing fee collected on the Community Development Loan by the selling agent. As a result, the effective rate may be less than the Community Development Loan floor rate.

<sup>(e)</sup> In default due to failure to meet minimum debt covenant requirements for debt service coverage ratio (DSCR).

<sup>(f)</sup> The rate shown is the annualized 7-day yield as of March 31, 2026.

\* All investments and other assets are pledged as collateral on the credit facility.

SOFR Secured Overnight Financing Rate.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Equalize Community Development Fund

- **b. Investment Company Act file number:** 811-22875

- **c. CIK number of Registrant:** 0001582138

- **d. LEI of Registrant:** 549300G10P3XIEETOE66

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 37 West Avenue

  - **City:** Wayne

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19087

  - **Telephone number:** 6103376500

**Item A.2. Information about the Series.**

- **a. Name of Series:** Equalize Community Development Fund

- **c. LEI of Series:** 549300G10P3XIEETOE66

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $30301279.57

**Total Liabilities:** $1675195.83

**Net Assets:** $28626083.74

**Cash Not Reported:** $7293.39

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.000000000000 | **1-Year:** 0.000000000000 | **5-Year:** 0.000000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.000000000000 | **1-Year:** 234.196701404966 | **5-Year:** 3810.634149345839 | **10-Year:** 2843.243680723221 | **30-Year:** 3767.902360057179

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 0.31%                | 0.42%                | -0.15%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2160.58                | $7824.10                                   |
| Month 2  | $6108.45                 | $67836.55                                  |
| Month 3  | $-2303.31                | $-87795.28                                 |

### Schedule of Portfolio Investments

| Name                                                  | Title                                                 | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| California Custom Processing LLC and 123 Aviation LLC | California Custom Processing LLC and 123 Aviation LLC | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    712500 | PA      | $712500.00    | 2.49%             | 2052-06-13      | Fixed         | 7.48%                 | Yes           |                  3 | On Loan: No      |
| MSILF Treasury Portfolio                              | MSILF Treasury Portfolio, Class Institutional         | CUSIP: 61747C582<br>LEI: 549300D1XR6GP7EZ0T47 | Long             | STIV             | RF                | US        |    269504 | PA      | $269504.16    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Ceeport Group LLC                                     | Ceeport Group LLC                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    518044 | PA      | $442041.36    | 1.54%             | 2030-03-19      | Fixed         | 6.50%                 | Yes           |                  3 | On Loan: No      |
| Kiva Holdings, LLC                                    | Kiva Holdings, LLC                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    714823 | PA      | $700190.66    | 2.45%             | 2030-02-21      | Fixed         | 6.75%                 | Yes           |                  3 | On Loan: No      |
| Oaks at Pooler, LLC                                   | Oaks at Pooler, LLC                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   5155831 | PA      | $5320869.39   | 18.59%            | 2031-04-01      | Variable      | 6.25%                 | Yes           |                  3 | On Loan: No      |
| Duane Auto Sale LLC                                   | Duane Auto Sale LLC                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    633987 | PA      | $604696.49    | 2.11%             | 2046-05-01      | Variable      | 6.25%                 | Yes           |                  3 | On Loan: No      |
| 537 Maple Hotel LLC                                   | 537 Maple Hotel LLC                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1904718 | PA      | $1631981.41   | 5.70%             | 2031-10-01      | Variable      | 6.00%                 | Yes           |                  3 | On Loan: No      |
| Clarke Avenue Realty, LLC                             | Clarke Avenue Realty, LLC                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   2883883 | PA      | $2480168.05   | 8.66%             | 2048-04-01      | Variable      | 5.34%                 | Yes           |                  3 | On Loan: No      |
| Roebuck Fire District                                 | Roebuck Fire District                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |   1003286 | PA      | $895854.39    | 3.13%             | 2041-05-06      | Fixed         | 3.41%                 | Yes           |                  3 | On Loan: No      |
| Roebuck Fire District                                 | Roebuck Fire District                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    156763 | PA      | $133487.23    | 0.47%             | 2041-05-06      | Fixed         | 4.41%                 | Yes           |                  3 | On Loan: No      |
| Rabits and Romano Architecture, Inc.                  | Rabits and Romano Architecture, Inc.                  | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1368925 | PA      | $1323066.33   | 4.62%             | 2031-06-01      | Variable      | 5.88%                 | Yes           |                  3 | On Loan: No      |
| Cookson Holdings LLC, Lloyd's Hardware LLC            | Cookson Holdings LLC, Lloyd's Hardware LLC            | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    860550 | PA      | $898173.45    | 3.14%             | 2032-04-01      | Variable      | 6.56%                 | Yes           |                  3 | On Loan: No      |
| Limitless Sun LLC                                     | Limitless Sun LLC                                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    616270 | PA      | $641678.51    | 2.24%             | 2047-02-01      | Variable      | 5.95%                 | Yes           |                  3 | On Loan: No      |
| Nowlin Properties LLC                                 | Nowlin Properties LLC                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1046529 | PA      | $1075486.61   | 3.76%             | 2047-03-01      | Variable      | 5.78%                 | Yes           |                  3 | On Loan: No      |
| Panorama Hospice, Inc.                                | Panorama Hospice, Inc.                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    468579 | PA      | $489777.26    | 1.71%             | 2046-09-01      | Variable      | 5.85%                 | Yes           |                  3 | On Loan: No      |
| Nexelm LLC                                            | Nexelm LLC                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    444413 | PA      | $457794.67    | 1.60%             | 2047-01-01      | Variable      | 5.95%                 | Yes           |                  3 | On Loan: No      |
| Royal Foods Mendota, LLC                              | Royal Foods Mendota, LLC                              | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    758147 | PA      | $724796.31    | 2.53%             | 2047-04-01      | Variable      | 6.00%                 | Yes           |                  3 | On Loan: No      |
| Nicholas Holdings, LLC                                | Nicholas Holdings, LLC                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2490504 | PA      | $2450282.09   | 8.56%             | 2031-10-22      | Variable      | 5.50%                 | Yes           |                  3 | On Loan: No      |
| Bonumose, Inc.                                        | Bonumose, Inc.                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    305148 | PA      | $223603.16    | 0.78%             | 2028-11-07      | Fixed         | 8.70%                 | Yes           |                  3 | On Loan: No      |
| Bonumose, Inc.                                        | Bonumose, Inc.                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | DBT              | USGA              | US        |    472299 | PA      | $451890.80    | 1.58%             | 2028-11-07      | Fixed         | 7.70%                 | Yes           |                  3 | On Loan: No      |
| All Star Anesthesia VAR 5.5% 3/24/2032   /            | All Star Anesthesia VAR 5.5% 3/24/2032   /            | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    639853 | PA      | $646251.37    | 2.26%             | 2032-03-26      | Fixed         | 5.50%                 | Yes           |                  3 | On Loan: No      |
| Moses Lake Investors, LLC                             | Moses Lake Investors, LLC                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    786749 | PA      | $815386.35    | 2.85%             | 2039-10-01      | Variable      | 9.75%                 | Yes           |                  3 | On Loan: No      |
| Grigorian Investments, LLC                            | Grigorian Investments, LLC                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    429419 | PA      | $430183.36    | 1.50%             | 2039-09-15      | Variable      | 7.64%                 | Yes           |                  3 | On Loan: No      |
| Digital Pavilion Electronics, LLC                     | Digital Pavilion Electronics, LLC                     | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1586231 | PA      | $1601236.86   | 5.59%             | 2044-09-15      | Variable      | 7.30%                 | Yes           |                  3 | On Loan: No      |
| KES, Inc.                                             | KES, Inc.                                             | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    435470 | PA      | $431210.84    | 1.51%             | 2029-12-02      | Fixed         | 6.75%                 | Yes           |                  3 | On Loan: No      |
| JPEG, Inc.                                            | JPEG, Inc.                                            | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    145831 | PA      | $147133.38    | 0.51%             | 2030-08-01      | Variable      | 6.50%                 | Yes           |                  3 | On Loan: No      |
| STMX Partners, LLC                                    | STMX Partners, LLC                                    | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    461563 | PA      | $467803.33    | 1.63%             | 2030-10-15      | Variable      | 8.00%                 | Yes           |                  3 | On Loan: No      |
| Jereme Lee James                                      | Jereme Lee James                                      | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    196176 | PA      | $203418.63    | 0.71%             | 2046-02-01      | Variable      | 6.50%                 | Yes           |                  3 | On Loan: No      |
| Uncle Pops LLC                                        | Uncle Pops LLC                                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    622158 | PA      | $595293.67    | 2.08%             | 2046-03-01      | Variable      | 6.18%                 | Yes           |                  3 | On Loan: No      |
| Budva Properties, LLC                                 | Budva Properties, LLC                                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1158913 | PA      | $1201491.29   | 4.20%             | 2046-07-01      | Variable      | 6.25%                 | Yes           |                  3 | On Loan: No      |
| Pinar Truck, Inc. and Export Track, Inc.              | Pinar Truck, Inc. and Export Track, Inc.              | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    613156 | PA      | $587231.33    | 2.05%             | 2031-04-23      | Variable      | 6.00%                 | Yes           |                  3 | On Loan: No      |
| Acworth Recycling, LLC                                | Acworth Recycling, LLC                                | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    276859 | PA      | $268340.37    | 0.94%             | 2029-12-15      | Fixed         | 6.75%                 | Yes           |                  3 | On Loan: No      |
| Dorris Fitness, LLC                                   | Dorris Fitness, LLC                                   | CUSIP: 999999999<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    487097 | PA      | $451826.60    | 1.58%             | 2030-01-28      | Fixed         | 6.75%                 | Yes           |                  3 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-06

**Name of Applicant:** Equalize Community Development Fund

**Signature:** /s/ Joseph Gladue

**Name of Signer:** Joseph Gladue

**Title:** Principal Financial Officer