Term Loans

Uses NIIF’s term loans are longer term financing, typically to fill critical gaps for transformative projects including rental, commercial, and mixed-use properties.
Loan amount Up to $3,000,000
Loan term Up to 7 Years
Interest rate and repayment

From 5.0%, subject to underwriting

Generally fully amortizing; partially amortized loans with balloon payments are allowable, subject to underwriting

Collateral/security 1st and 2nd position lien on property being financed;  pledges on earned developer fees and, grant funds, and assignment of ownership interests may be required, subject to underwriting

Generally loan to value (LTV) up to 95% of appraised “as stabilized” value for permanent financing

Repayment source For partially amortizing loans, a balloon payment will be due at maturity or may be refinanced

Commitment fee — $5,000

Origination fee — Up to 1.50% of loan amount

Third party legal fees and other third-party fees as incurred

All terms are estimated and subject to periodic revision, at NIIF’s sole discretion.  Inquiries or questions may be directed by email to Mark Kaufman, President & CEO, at [email protected].