Loans


LISC offers financing during all stages of projects – predevelopment, property acquisition, construction, and permanent. We seek to strike the right balance between taking risks consistent with our role as a charitable lender, and recovering our capital so we can make funds available to future projects.

Following are some examples of our loan products:

Pre-Development Loans

  • To pay project predevelopment expenses for rental housing, for-sale housing, community facilities, and land banking.
  • Up to three-year terms.
  • Interest payable monthly or quarterly.
  • Repayable in full at construction financing close.

Acquisition Loans

  • To pay purchase and closing costs for rental housing, for-sale housing, community facilities, and land banking.
  • Up to three-year origination period.
  • A proportionate amount of non-amortizing loan repayable at construction financing close for each unit.
  • Security required, with strong preference for real estate collateral.
  • Interest payable monthly or quarterly.

Construction Loans

  • To pay hard and soft construction costs for rental housing, for-sale housing, and community facilities.
  • Up to two-year term and origination period.
  • Non-amortizing loan repayable in full at permanent financing close.
  • Fixed interest rate, set at closing, payable monthly or quarterly.
  • Security required, with strong preference for real estate collateral.

Mini-Permanent Loans

  • To provide permanent financing for rental housing and community facilities.
  • Up to seven-year term, amortized over maximum of 12-year schedule, repayable in full on balloon maturity date.
  • Fixed interest rate, set at closing, payable monthly or quarterly.
  • Security required, with strong preference for real estate collateral.

Revolving Working Capital Loans and Lines of Credit

  • To provide flexible working capital for a number of projects, to meet early project expenses or organization cash flow needs.
  • Up to two-year term, 18-month origination period; revolving facility.
  • Disbursements repayable at construction financing close.
  • Fixed interest rate, set at closing. Standard closing conditions.