In partnership with Maryland’s Department of Housing and Community Development through the State Small Business Credit Initiative, NIIF is helping Baltimore City nonprofits and small businesses buy their buildings with terms built for community.
Eligibility Requirements
- 3+ years of positive operating history
- For acquisition costs, with up to 20% allocated for renovation
- Current rent / occupancy cost covers at least 75% of leasable square footage
- Personal guarantees from all for-profit owners holding more than 20% equity
Competitive Terms
- Maximum Loan: $1.5 million
- Interest Rate: 5% fixed
- Origination Fee: 1%
- Loan Term: 5 years
- Amortization: 20 years
- Loan-to-Value: 85%
If you are ready to own your own space, fill out the Occupancy to Ownership Intake Form today!
Please reach out to [email protected] with questions.