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 — $1,000

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 Lori Glass, Chief Lending Officer , at Lori@Baltimoreniif.org.