Multi-family Housing & Community Facilities
The Community Investment Fund of Indiana (CIFI) makes loans to for profit and non-profit organizations for projects serving low-income families/neighborhoods in qualified census tracts for the benefit of low-income at risk and special needs clients. The project must be located in the state of Indiana
Eligible projects with an unmet financing need pertaining to Community Facilities, Affordable Rental Housing or Supportive Housing and Facilities should start an application (here) or contact us at (317) 960-3710.
Currently, loans are offered in amounts up to $250,000 and CIFI can participate with banks, government agencies and non-profit community economic development lenders. Loan types include:
• Pre-development loans (up to 36 months)
• Acquisition & Construction (up to 36 months)
• Rehabilitation (term to be determined on a project by project basis)
• Collateral: All loans must be secured.
• Fixed rates start at prime + 2.75% and up
• Origination Fee: 1% of loan amount
• Application fee may apply