Short term loans for early stage costs to determine a project’s feasibility. (Up to $100,000 or more depending on collateral or other repayment terms).
For purchase of vacant land and buildings planned for future development, preservation of affordability, or other redevelopment/reuse activities, for both residential and commercial development. (Up to $3 Million)
Typically follow acquisition of property or vacant site, and are used to cover hard and soft cost associated with new construction, adaptive reuse or extensive renovation for residential, commercial or mixed use. (Up to $3 Million)
Interim to support timing gaps or other gaps, including subsidy payments, tax credit capital or fundraising proceeds. (Up to $3 Million)
Longer term financing, typically to fill critical gaps in transformative projects including rental, commercial and mixed use properties. (Up to $3 Million)
Additionally, NIIF will consider the following structures as part of investments in Impact Investment Neighborhoods:
NIIF will consider subordinate or mezzanine structures in its products for impactful projects, subject to underwriting.
Loans to Intermediaries
NIIF will consider direct loans to CDFIs and other intermediaries or other forms of credit support where capacity constraints exist.