| 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 |
| Fees |
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 Mark Kaufman, President & CEO, at Mark@baltimoreniif.org. | |
Term Loans
