General Information and Structure
Lender:
Enterprise Community Loan Fund
Lending Type:
CDFI
Jurisdiction:
National
Available for land and building acquisition, predevelopment costs and critical repairs. Loan-to-Value: 60% for unimproved land, 80% for improved land. Loan-to-value based on "as is" appraised value. Repayment: Interest only, payable monthly. Principal due at earlier of acquisition financing or maturity date. No prepayment penalty. Recourse/Guaranties: Loans will have full recourse to the borrower and guaranty from project sponsor, if applicable.
Active or Closed Program?:
Active
Eligibility Criteria:
Nonprofit organizations, Limited partnerships and single asset entities with nonprofit sponsors, and Mission-aligned for-profit entities are eligible borrowers.
Type of Financing:
Acquisition/Predevelopment
Loan Size Range:
$500,000 to $3,000,000
