Debt Financing
There is a lot of talk about "one-stop-shopping" today. Too often, it's a phrase casually tossed around by companies who see it as a way to offset weak lines of business rather than improve their level of service to developers.
At NEF, Inc. we take a little bit different tack: we are in the business of ensuring our partners have access to the technical and financial resources they need to build affordable housing that stands the test of time. That's it...no subterfuge about product links or convoluted business agreements. If your deal needs it, we'll work with you to get it, whether that means offering you direct financing or helping arrange for that financing through outside sources.
There are three ways our acquisitions staff can help arrange for additional financing:
Local Initiatives Support Corporation: Since 1980, our parent--LISC--has stimulated broad-based community development efforts through grants and loans to nonprofit community development corporations. LISC continues those efforts today, providing capacity-building, predevelopment and permanent lending to CDCs pursuing affordable housing, economic development, day care centers, etc.
NEF Mortgage Corporation (NEF MAC): This NEF, Inc. affiliate provides permanent and refinancing loans to developers that are utilizing NEF, Inc. equity but don't have access to LISC dollars. That includes for-profit affordable housing developers, nonprofits in areas without a LISC local program and developers needing products LISC does not offer, like long-term refinancing. We provide both immediate funding loans as well as rate-locked, forward commitment loans through NEF MAC. See Terms.
Third-party Sources: Because of NEF, Inc.'s close relationship with most major banks operating in affordable housing, our acquisitions staff can help connect you with additional resources. This is particularly true of construction lending, which NEF MAC does not offer directly but helps arrange through a number of our investors."Our bank partners do a better job at construction lending than we ever could," commented Joe Hagan." This is about service, and we would rather connect a developer to the right financing source than just add another NEF product to their mix of funding."
For more information on how NEF, Inc. can assist with your tax-credit project please contact a member of our acquisitions team. Contact Jim Rice, 312-697-2481 or jrice@nefinc.org, for information on debt financing through NEF MAC.
Featured Developer
EAH, Inc.
Established in 1968, EAH now serves over 18,000 seniors, families, students, people with disabilities, frail elderly and the formerly homeless. Combining award winning design, innovative on-site services and a commitment to people, EAH, Inc. has built 15 projects with NEF, Inc. equity, including the $34 million Dublin Transit Center in Dublin, California (above).
Read more about our featured developer.
NEF has invested $7.5 billion of equity that has helped build 109,000 homes in 1,800 projects across America.
NEF is now on twitter!
Tweet Us today to learn more.