LISC provides the experience and skill needed to raise resources that can address the financial gaps often associated with investment in urban-core neighborhoods. Qualified nonprofit partners and for-profit developers can apply for a full range of financial products to cover the various stages of the commercial and residential development process including:
Loans can range from $50,000 to over $4 million and are intended to be short-term (usually less than three years, paid back at the time of permanent financing) and market-competitive. They do not take the place of traditional financial facilities, such as those offered by private banks. Rather, they cover the high-risk portion of a project – the predevelopment stage of a project in a low-income community – that most lenders are unable to finance due to their underwriting thresholds. Sometimes LISC funds are used to complement a bank commitment by taking a second or tertiary position. Although most LISC loans are real estate related, there are a few made as lines of credit to assist client organizations in their cash flow.
Greater Kansas City LISC can also provide technical and financial assistance in specialized areas of expertise through National LISC in the following areas: