Uses |
Early stage capital for design and engineering, market and environmental studies,
appraisals, legal costs, filing and application fees, deposits and working capital Loan funds can be fully drawn at closing or on an as-requested basis |
|
Loan amount | Up to $2,000,000 | |
Loan term | Up to 36 months - loans can be term or revolving | |
Interest rate |
Please call us for current fixed rates. Rate dependent on collateral/security, loan term, complexity and certainty of process to move project to construction or other start point | |
Collateral/security |
Up to $1,000,000 can be drawn unsecured per project Larger loans can be secured by real estate; pledges of grant funding, developer fees, or other project receivables; assignment of ownership interest, etc. NWO’s will provide repayment guaranties for predevelopment loans made to affiliates |
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Repayment source | Typically construction or acquisition financing for development, or could be alternative funding such as grants | |
Fees |
Application Fee - $1,000 Origination Fee - 1.5% to 2.00% of loan amount |
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Third-party reports | Appraisal and environmental assessment for real-estate secured loans |
*Interest rates are estimates and subject to change based on market conditions
Loans@neighborworkscapital.org
Tel: (240) 821-1651
8484 Georgia Ave. Ste 330
Silver Spring, MD 20910
Hours: Mon-Fri 8am-6pm
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