NeighborWorks Capital has unveiled a suite of loan products to help members of the NeighborWorks America network to build and rehabilitate green affordable housing developments.
“Energy efficiency and water conservation continue to be places where developers can bring savings for their customers and their projects,” said NeighborWorks Capital Executive Director Jim Ferris. “Our new loan products are priced to help keep NeighborWorks developers competitive in an increasingly tough and fast-moving market.”
Mini-perm financing is available for property acquisition, property improvement, and renewable energy equipment purchase. Loans for property acquisition range from $200,000 to $3 million. Loans between $200,000 $750,000 are available for property improvement.
NeighborWorks also has a green grant program that will provide up to $10,000 for energy-planning technical assistance to evaluate a property and develop a green retrofit plan. Network members will be able to access up to $5,000 for energy-monitoring implementation toward the cost of monitoring and reporting systems. The funds for the grant program are provided in partnership with the Home Depot Foundation.
The organization’s network is made up of 235 independent, community-based nonprofit organizations serving more than 4,500 communities nationwide. More than one-third of these organizations serve rural communities.
Based in Silver Spring, Md., NeighborWorks Capital is an affiliate of NeighborWorks America. For more information, visit http://www.neighborworkscapital.org.