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Predevelopment loans

General Information and Structure

Enterprise Community Loan Fund
Lending Type: 

Predevelopment loans are available for third-party due diligence, deposits for site control, permits and applications and consultant fees. Loan-to-Value: 70% of Earned Developer Fees, 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?: 
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: 
Loan Size Range: 
$250,000 to $750,000

Financing Details

When is the Product Applicable?: 
Interest Rate: 
Fixed and variable interest rate options available (variable rates based on LIBOR)
Up to 2 years
Secured - real estate

Additional Information

Point of Contact: 
Noni Ramos at 415.395.0956 or [email protected]
Program Notes: 
Fees: Up to 2% 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.