Commercial/Community Facilities Lending
Neighborhood Commercial/Community Facilities
The Housing Fund’s Development Loan Program provides financing to nonprofit and for
profit developers for mixed use and other non-residential projects that contribute to the development of low and moderate income (LMI) neighborhoods.
Community development projects are encouraged to meet certain criteria as it applies to Low to Moderate Income (LMI) individuals or geographic areas:
|Counties||All counties in the Middle Tennessee MSA|
|Interest Rate||Interest rates vary by project and developer type|
|LTV/LTC||THF will lend up to 90% of cost or 80% of value, whichever is less.|
|Terms||Payment Schedules and terms may be flexible to accommodate project requirements.|
Other Things to Know:
• Community development projects are encouraged to meet one or more of the following criteria as it applies to LMI individuals or geographic areas:
- Supporting permanent job creation or retention
- Provide services such as health, education, day care, or social services
- Provide neighborhood revitalization by acquiring/renovating distressed properties in LMI Census Tracts
• The Housing Fund begins the underwriting process upon receiving a completed Development Loan Application as well as the items requested on said application.