Enterprise Growth Capital

For more information, download our loan sheet:

Enterprise Growth Capital loan

Case Study

Wayfinders

Way Finders - Strategic Growth Fund

NeighborWorks Capital provided a $750,000 loan to Way Finders from its Strategic Growth Fund to cover the stock purchase of MBL Development. The affordable housing consultant was going to close after the retirement of its founder; Way Finders purchased the business to maintain its services for developers in Western Massachusetts. The SGF loan will create liquidity to MBL and ultimately positive cash flow to Way Finders.

The NeighborWorks Capital team listened to our needs and found the right solution. The favorable terms and rate of NeighborWorks Capital's acquisition loan product were exactly what we were looking for. We are grateful for their professionalism, lending expertise, and great service. ~ Ginger Segel, Chief Development Services Officer, Community Frameworks

 

Details

Uses

Working capital to finance the start-up and growth phases of new lines of business, and to expand the geographic reach of current business lines.

Loan amount

Up to $1,000,000

Loan term

3 to 5 years

Interest rate

From 5.75%, depending on availability of collateral/security, loan term, complexity of the business plan and sources of new cash flow for debt service

Collateral/security

Unsecured up to $500,000

Amounts greater than $500,000 will be secured by in real property, pledges of developer fees, UCC, ownership interests, and/or grant funds

Repayment source

Corporate cash flow from existing, new, or expanded lines of business

Fees

Application fee - $1,000
Origination fee – 1.00% to 1.50% of loan amount

Required documents

Business plan with 5-year cash flow projections

Appraisals and environmental assessments for real property collateral