| Uses | NIIF’s predevelopment loans are short-term loans for early stage costs to determine a project’s feasibility, including architect or engineering fees, market and environmental studies, appraisals, legal costs, filing and application fees and financial consultants. |
| Loan amount | Up to $100,000
Higher amounts are subject to a pledge of collateral, strength of the guarantor, or other underwritten repayment sources |
| Loan term | Generally up to 24 months |
| Interest rate and repayment |
From 5%, subject to underwriting Generally interest-only; an interest reserve may be required |
| Collateral/security | Up to $100,000 unsecured
Loans greater than $100,000 may be considered with additional security through liens on real estate and pledges of grant funding, among other options. |
| Repayment source | Typically acquisition or construction financing for the project development
Alternative funding such as grants may be acceptable. |
| Fees |
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]. | |
Predevelopment Loans
