FINANCING

1. Is the project in an Eligible Neighborhood?

The Eligible Neighborhoods for NIIF have been defined by Baltimore City.  Investment is restricted to these areas based on the loan agreement with the City that has served to initially capitalize NIIF.  For more information and to see if a location is eligible for financing from NIIF, refer to our interactive map of Eligible Neighborhoods.

2. What type of financing is needed?

NIIF can offer a variety of products to fill gaps in projects and to meet borrower’s needs. In general, these products are designed to support larger scale real estate related development or acquisition projects.  The current product offering is detailed below and NIIF will consider flexible terms and conditions, including subordinated debt.  As a wholesale intermediary by design, NIIF is also working to identify and support partners capable of reaching the small business and small developer markets at this time.

Predevelopment Loans

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).
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Acquisition Loans

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)
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Construction Loans

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)
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Bridge Loans

Interim to support timing gaps or other gaps, including subsidy payments, tax credit capital or fundraising proceeds. (Up to $3 Million)
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Term Loans

Longer term financing, typically to fill critical gaps in transformative projects including rental, commercial and mixed use properties. (Up to $3 Million)
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Additionally, NIIF will consider the following structures as part of investments in Impact Investment Neighborhoods:

Subordinate Debt
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.

3. To apply, complete the NIIF Intake Form below

Please complete and submit the intake form below.

After you submit the form, you will be provided with a link to download a more detailed preapplication for NIIF financing.

Operational for three years or more?