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LENDING

Paul and Ted Pappas

Short-term loans

LISC Jacksonville provides short-term financing for an array of activities carried out by community-based partners, including support for:

  • Rental housing
  • For-sale housing
  • Commercial projects
  • Community facilities
  • Bridge and construction financing

We also have the ability to leverage and credit-enhance the participation of a private lender in a project by acting as a subordinate lender and providing a loan guarantee.

Our loans, lines of credit, and recoverable grants are available to fill in gaps at the predevelopment, property acquisition, and, in some cases, construction stages of the project. While we use standard underwriting policies as guidelines, we also attempt to craft the terms and conditions of any funding to meet the needs of the particular project, its sponsor, and the community being served. We are committed to ensuring that our financing continues to add value to the work of our community partners, helping them build healthy communities where residents want to live, do business, work, and raise families.

LISC adjusts its interest rates on a semi-annual basis. For current loan rates and terms, please contact  Program Officer James Coggin  

 

Commercial Development

Equity

Lisc Jacksonville also provides equity for affordable housing and commercial projects.

Our equity for affordable housing development is offered through the National Equity Fund, an affiliate of LISC that syndicates the federal Low Income Housing Tax Credit.

LISC has also received allocations of New Markets Tax Credits for commercial developments. Investments made in commercial projects using this allocation may be in the form of equity or lower interest, longer term financing. For more information about LISC’s Housing Credits or New Market Tax Credit products for Jacksonville projects, please contact  Program Officer James Coggin.

 Wiley

Our Loan Products

  • Recoverable Grants: limited, highly sought after funds, to provide early risk capital to advance project feasibility (non-profits only)
  • Pre-Development Loans: for pre-construction project costs once funds are committed
  • Acquisition Loans: to pay purchase and closing costs of a property acquisition
  • Construction Loans: with conventional financing to pay hard and soft construction costs
  • Mini-Permanent Loans: short term, for the long-term or “permanent” financing of a project
  • Revolving Working Capital Loans: to provide flexible working capital for multiple projects
  • Working Capital Lines of Credit: to meet organizational cash flow and/or capital needs
  • Bridge Financing Loans: for bridging capital campaign commitments, receivables, earned developer fees, and Low Income Housing Tax Credit capital contributions
  • LIHTC (Low Income Housing Tax Credit), NMTC (New Markets Tax Credit) Equity: equity financing through The National Equity Fund, Inc., The New Markets Support Company, and The Community Development Trust