Mini-Perm / Permanent

For more information, download our loan sheet:

Mini-perm and Permanent Loan

Case Study

Lamar Life Insurance Building

Hope Enterprise | Lamar Life Insurance Building

NC’s $1.75 million loan participation with Hope Enterprise Corporation, part of a $12 million New Markets Tax Credit transaction, will bring the landmark Lamar Life building, one of the largest in Jackson, MS, back to life with new commercial space and apartments.

Without NeighborWorks Capital participation in our loans, it would be difficult for us to finance many larger developments and New Market Tax Credit projects throughout the Mid-South region. Since 2014, NeighborWorks Capital has provided loan participations to bridge, acquisition and mini-permanent loans. ~ Phil Eide, SVP Community and Economic Development, Hope Enterprise Corporation




Acquisition-rehab and refinancing of operating rental, commercial, and mixed-use properties, including in New Markets Tax Credit developments

Loan amount

Up to $7,000,000 for Mini-perm Loan
Up to $2,000,000 for Permanent Loan

Loan term

7 years for Mini-perm Loans
18 years for Permanent Loans

Interest rate

 From 6.25%


1st and 2nd position lien on financed and/or unencumbered real property, pledged earned developer fees, and grant funds, assignment of ownership interests

Maximum LTV 95%


Monthly P&I payments based on 15 to 30-year amortization
Minimum DSCR of 1.10x
Payments made from operating cash flow of the property

Repayment source

Refinancing or sale of property


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

Required documents

Appraisal, market study, Phase I/II environmental assessments, capital needs assessment for operating property