Our Model

Loans by Type of Product

Predevelopment

  • Purpose: To pay due diligence expenses, deposits, and other predevelopment costs
  • Eligible Projects: Rental housing; for-sale housing; community facilities; commercial and mixed-use projects
  • Loan Amount: $50,000 - $1,000,000
  • Interest Rate: 6%
  • Term: Up to 2 years
  • Repayment: Interest-only, payable monthly
  • Loan Fees: Up to 1.5% of loan amount plus legal fees
  • Collateral: Flexible; generally secured

Acquisition

  • Purpose: To pay purchase price and closing costs for property acquisition
  • Eligible Projects: Rental housing; for-sale housing; community facilities; commercial and mixed-use projects
  • Loan Amount: $100,000 - $6,000,000
  • Interest Rate: 6%
  • Term: Up to 3 years
  • Repayment: Interest-only, payable monthly
  • Loan Fees: Up to 1.5% of loan amount plus legal fees
  • Collateral: Real estate collateral with LTV of up to 90%

Construction

  • Purpose: To pay hard and soft costs of new construction or renovation projects
  • Eligible Projects: Rental housing; for-sale housing; community facilities; commercial and mixed-use projects
  • Loan Amount: $100,000 - $6,000,000
  • Interest Rate: 6%
  • Term: Up to 3 years
  • Repayment: Interest-only, payable monthly
  • Loan Fees: Up to 1.5% of loan amount plus legal fees
  • Collateral: Real estate collateral with LTV of up to 90%

Mini-Permanent

  • Purpose: To provide longer term loans for projects requiring stabilization or interim financing
  • Eligible Projects: Rental housing; for-sale housing; community facilities; commercial and mixed-use projects
  • Loan Amount: $100,000 - $6,000,000
  • Interest Rate: 6%
  • Term: Up to 7 years
  • Repayment: Amortizing payments based on period of up to 30 years, payable monthly
  • Loan Fees: Up to 1.5% of loan amount plus legal fees
  • Collateral: Real estate collateral with LTV of up to 90%

Permanent

  • Purpose: To provide long-term, fully amortizing financing
  • Eligible Projects: Rental housing; for-sale housing; community facilities; commercial and mixed-use projects
  • Loan Amount: $1,000,000 - $6,000,000
  • Interest Rate: Fixed at spread over U.S. Treasuries of comparable duration plus additional spread for any forward rate lock
  • Term: Up to 27 years
  • Repayment: Amortizing payments based on a period of up to 30 years, payable monthly
  • Loan Fees: Up to 1.5% of loan amount plus legal fees
  • Collateral: 1st lien on real estate collateral with LTV of up to 90%; additional collateral required for any amount in excess of 80% LTV

Bridge

  • Purpose: To bridge the timing gap between project or program costs and receipt of cash from committed or anticipated sources
  • Eligible Projects: Rental housing; for-sale housing; community facilities; commercial and mixed-use projects
  • Loan Amount: $100,000 - $6,000,000
  • Interest Rate: 6%
  • Term: Up to 3 years
  • Repayment: Interest-only, payable monthly
  • Loan Fees: Up to 1.5% of loan amount plus legal fees
  • Collateral: Bridged receipts and/or real estate collateral

Working Capital

  • Purpose: To provide flexible capital to meet organizational cash flow needs or pay project-based expenses
  • Eligible Projects: Rental housing; for-sale housing; community facilities; commercial and mixed-use projects
  • Loan Amount: $100,000 - $6,000,000
  • Interest Rate: 6%
  • Term: Up to 2 years
  • Repayment: Interest-only, payable monthly
  • Loan Fees: Up to 1.5% of loan amount plus legal fees
  • Collateral: Flexible; generally secured