General Information and Structure
Enterprise Community Loan Fund
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?:
Nonprofit organizations, Limited partnerships and single asset entities with nonprofit sponsors, and Mission-aligned for-profit entities are eligible borrowers.
Type of Financing:
Loan Size Range:
$500,000 to $3,000,000
When is the Product Applicable?:
Fixed and variable interest rate options available (variable rates based on LIBOR)
Up to 2 years
Secured - real estate
Point of Contact:
Noni Ramos at 415.395.0956 or [email protected]
Fees: Up to 1.75% of loan amount; half payable at commitment, balance due at closing. Borrower is responsible for payment of legal fees and all third party costs including appraisal, Phase I, etc., if applicable.
Link to Additional Information: