We have a variety of flexible lending products designed to help local groups bring development projects to fruition. Our loans cover every phase of development, from acquisition to working capital and all the steps in between. We are committed to working together with developers to get projects done, whether it entails building affordable housing or a school or launching a retail or commercial venture.
Please keep in mind that terms are subject to change and all loans must go through underwriting and credit approval process.
- Transit-Oriented Development: Provides developers with streamlined access to acquisition and predevelopment capital that can be used to acquire and advance strategic properties along transit corridors.
- Vacant Land Acquisition: Qualified nonprofit affordable housing development partners can acquire substantially vacant and underutilized parcels of land and buildings for future development as mixed-income and affordable housing.
- Predevelopment: Early stage investments in planning, design, and environmental and structural assessments for projects that are proceeding to construction. Proceeds are used to pay due diligence expenses, deposits and other predevelopment costs.
- Acquisition: Financing to help pay the purchase price and closing costs for property acquisition. These loans are generally made when construction and permanent financing have been secured or preliminarily committed.
- Construction: Loans to projects, either as a sole source of financing or in concert with other lenders. Construction loans are provided for hard and soft building and improvement costs, including new construction, substantial or moderate renovations, and leasehold improvements.
- Mini-Permanent: Longer-term, partially amortizing loans for certain projects, including rental housing, community facilities and economic development projects. LISC’s mini-permanent loan is typically originated as a construction loan that converts to mini-perm when certain conditions are met, such as issuance of a certificate of occupancy.
- Permanent: Long-term financing or refinancing of acquisition, construction and renovation projects in low-income areas or that serve low-income populations for several project types, including the rental housing, charter schools, health centers, commercial and nonprofit asset classes.
- Bridge: Financing to bridge the timing gap between expenses needing current payment and receipt of cash from committed or anticipated sources of capital not yet available, including capital campaign commitments, public contracts or note proceeds, earned developer fees and tax credit capital contributions.
- Microloans: Up to $10,000 with no fees and no interest.
- Impact Lending: Contract financing, working capital, technical assistance, and more.
- Charter Schools: LISC finances facilities for high-quality charter schools that offer educational choice to low-income families in historically under-performing school districts.
- Child Care Centers: LISC provides financing for the development and improvement of early childhood centers serving low-income children and families.
- Health Care: LISC provides access to quality health care by financing community-based health care facilities nationwide.
- Healthy Foods: With resources from the CDFI Fund’s Healthy Food Financing Initiative, LISC provides low-cost financing for projects that increase access to healthy food, primarily via retail food outlets such as supermarkets or food coops in federally-designated food deserts.