Financing
Loans
LISC's loan program is designed to provide nonprofit community
development corporations with the debt capital needed to enable otherwise worthy
and otherwise feasible projects to be developed. LISC provides capital at flexible
and often below-market rate terms. We provide loans for predevelopment, acquisition,
construction or mini-permanent financing. Contact Peggy Jen for our latest loan terms
for affordable housing or commercial and community facilities projects.
Predevelopment Zero Interest Loans (“Recoverable
Grants”)
Most often used in predevelopment stage, LISC provides local
nonprofit community development corporations with zero interest loans (or
“recoverable grants”). These zero-interest loans are typically no more than $50,000. LISC will advance funds for
predevelopment costs with no interest charged, and the funds are generally repaid
within 12 to 18 months. Repayment typically occurs when acquisition and/or
construction financing is secured.
Equity
LISC's affiliate, the National Equity Fund, provides equity investments
in affordable housing projects eligible for low income housing tax credits.
To learn more about them, please visit NEF's website at www.nefinc.org.
Green Connection Loan Fund
The Green Connection Loan Fund provides nonprofit developers with preferred
financing to help incorporate green, sustainable materials and design features
into affordable housing. Loans of up to $250,000 are made to community
development organizations with a strong commitment to sustainable building.
Download a PDF version of the Green Connection Loan Fund here. For more information, contact Jennifer Somers at 415-397-7322 x 28 or jsomers@lisc.org. Bay Area LISC thanks Catholic Healthcare West for providing a $500,000 investment to help launch the fund.