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Sustainable Lending Products

General Information and Structure

Lender: 
Local Initiatives Support Corporation (LISC)
Lending Type: 
CDFI
Jurisdiction: 
National

Sustainability features are sometimes included in LISC's financing for affordable housing. When these measures are included, it is often because of developer interest and access to other green incentive funding. Terms for for rental housing loan products are: Bridge: 3 years; Working Capital: 2 years; Predevelopment: 2 years; Acquisition: 3 years; Construction: 3 years; Mini-Perm: 7 years; Permanent: 27 years. Loan Fees: Up to 1.5% of loan amount plus legal fees. Local LISC offices have dedicated green initiatives. Collectively, LISC's NYC and Boston offices have worked with over 70 multifamily housing owners to create healthier housing, track energy and water use, and undertake energy or water saving strategies in over 9,000 apartments (4,000 in NYC; 5,000+ in MA). This work resulted in substantial energy, water and health improvements. (See more under LISC Boston and LISC NYC)

Active or Closed Program?: 
Active
Eligibility Criteria: 
Community development corporations, nonprofit and for-profit affordable housing developers
Type of Financing: 
Acquisition/Predevelopment
Bridge
Construction/Rehab
Mini-Permanent/Permanent
Loan Size Range: 
$50,000 - $5,000,000

Financing Details

When is the Product Applicable?: 
Acquisition
Mid-cycle
Refinancing
Interest Rate: 
6%; Permanent Fixed at Spread over U.S. Treasuries of comparable duration
Maturity: 
2- 27 years
Security: 
Secured

Additional Information