CATALYST DEVELOPMENT CORPORATION AFFORDABLE HOUSING GAP FINANCING PRODUCT:
“Catalyst Development Corporation provides patient and flexible access to capital to the small development community by providing small business loans to finance rehabilitation, construction, and other development costs. CDC seeks to provide small business loans to individuals and organizations interested in the redevelopment of affordable housing units and committed to serving low to moderate income individuals located in underserved communities in the area. ”
Product Fact Sheet:
Eligible Borrowers: Both nonprofit and for-profit affordable housing developers are eligible for financing. The property may be located in an eligible underserved community and/or sold/rented to a low- or moderate-income individual or family.
Loan Terms: The loan terms are flexible and are based on the capital requirements of the project. Flexible terms may include a period of interest-only financing, below market interest rates, or substantial better than market loan to value requirements. All loans require collateral. In most instances, the loan will be secured by the property financed. There is no minimum loan amount; however, the maximum loan is determined on a case-by-case basis.
Application Process: Please email us at firstname.lastname@example.org to discuss your project and to receive an application.
Catalyst Development Corporation is an Equal Opportunity Lender.
Catalyst is currently seeking capital to expand its product offerings to include small business loan products.