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Arizona Loan Programs
Housing
Short-term loans for affordable housing projects including: single
family (both rental and ownership), multifamily, special needs
and transitional.
Community Facilities
Short-term loans for facilities benefiting low income or underserved
communities. Examples include (but are not limited to): nonprofit
offices, community centers, childcare facilities, shelters,
medical and/or dental clinics, adult day health care facilities.
Economic
Development
Short-term loans for projects in low-income or underserved
communities, which will contribute to community revitalization
and create
or retain jobs.
Loan Products
| - Land Acquisition |
- Predevelopment |
- Site Development |
| - Construction |
- Acquisition/Rehabilitation |
- Mini-permanent |
| - Refinance |
- Line of Credit |
- Working Capital |
Terms and Conditions:
Amount
$25,000 to $1,500,000
Term
Up to five years for term loans and 12 months (renewable) for
lines of credit
Interest Rate
Priced according to risk.
| - Housing: 7.5 to 10.0% |
- Line of Credit: 8.0 to 10.0% |
| - Community Facilities: 8.0 to 10.0% |
- Working Capital: 8.0 to 10.0% |
| - Economic Development: 8.0 to 10.0% |
|
Collateral
- Real estate, when possible
- Subordination to conventional
lenders considered
- Will consider alternatives to real estate
| - Assignment of leasehold interest |
- Certificate of Deposit |
| - Irrevocable letter of credit |
- Loan Guarantee |
| - Income Stream |
- Assignment of Revenue |
| - Suggest something for us to consider |
Loan-to-Value
Up to 90%
Debt Service
Coverage Ratio 1.05 or better
Borrowers
- Nonprofit agencies 501(c)(3)
- Governmental or quasi-governmental
agencies
- Mission-based for-profit developers/contractors/builders
Project
Must be located in a low-income census
tract OR serve a majority of very low to moderate-income people
Contact us for more information.
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