Frequently Asked Questions
About NCB Capital Impact
Technical Assistance (TA)
- What TA programs does NCB Capital Impact offer?
- What is "assisted living"?
- What is a "Green House" home?
Lending
- Do you have a product that meets my needs?
- How fast will I get a response?
- What rates and terms do you offer?
- What costs and fees will I be responsible for paying?
- What is your average credit criteria?
- What information will I need to gather and provide in the loan underwriting process?
About this Website (Accessibility, Security,...)
- Why should I register and create a User Profile on ncbcapitalimpact.org?
- What if I forget my password?
- How do I change my password?
- Why am I having trouble viewing/navigating the website? What browsers work best?
- What should I do if I have technical or accessibility problems with your website?
- How secure is my personal information?
- How do I sign up for eNewsletters?
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About NCB Capital Impact
1. What is NCB Capital Impact?
NCB Capital Impact is the nonprofit affiliate of NCB. NCB Capital Impact provides innovative financial services and expert technical assistance programs that are sustainable and scalable. NCB Capital Impact empowers communities to create more affordable shared equity homeownership, long-term care, housing and services for the frail and elderly, and facilities for community health centers and charter schools. Read about NCB Capital Impact's Mission, Vision, and Core values.
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2. What is "economic development"?
Defined most generally, economic development is "increasing rate of growth in output, income or employment." Consistent with our mission, when we at NCB Capital Impact refer to economic development we are talking about assisting economically disadvantaged and distressed communities, i.e.,:
- broadening business and asset ownership within poor and ethnic minority communities,
- creating jobs at acceptable wages with appropriate benefits and career ladders for area residents, and
- establishing greater community control, accountability and participation in basic economic decisions.
We see jobs and wealth creation as an integral part of making long-term sustainable change to distressed communities, along with affordable housing, good schools and other aspects of community development.
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3. What does NCB Capital Impact's affiliate, NCB, do?
NCB (formerly National Cooperative Bank) provides comprehensive financial services to cooperatives and other member-owned organizations throughout the United States. Chartered by Congress in 1978, NCB was privatized in 1981 as a cooperative, and today is owned by more than 1,800 of its member-customers. Headquartered in Washington, DC, NCB also has offices in Alaska, California, Connecticut, Ohio and New York. NCB's Ohio-based subsidiary, NCB, FSB, offers commercial and personal banking services to NCB's customers nationwide. To learn more about NCB, visit www.ncb.coop.
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4. What is a "cooperative"?
A cooperative or "co-op" is an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned and democratically controlled enterprise. Co-ops are member-owned and democratically controlled enterprises, created and used by their member-owners to provide goods and services. Members may unite in a co-op for many reasons: to get services otherwise not available, to get quality supplies at the right time, to have access to markets or for other mutually beneficial reasons. Examples of traditional co-ops include housing co-ops and purchasing co-ops. Examples of organizations that share in co-op principles include non-profit health care organizations, retirement communities, and charter schools. Learn more about cooperatives.
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5. How does co-op homeownership, a form of shared equity, differ from owning a condominium unit?
When you own a co-op, you do not actually own the rooms that comprise your unit. You own shares in the overall ownership of the building(s). These shares are prorated on the total square footage of your unit. In condominium ownership, you actually own the interior space of the rooms that comprise your unit, while the condo association owns the land, public areas and infrastructure of the building(s). More information on cooperative homeownership is available on our website.
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6. How can I pursue a career at NCB Capital Impact?
We invest in and empower our employees. Our culture is diverse driven by a uniquely entrepreneurial spirit. To peruse open positions within NCB Capital Impact and related companies and read about our competitive benefits, please visit our Careers web page. You may submit your resume online.
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Technical Assistance (TA)
1. What TA programs does NCB Capital Impact offer?
Current TA programs focus on affordable assisted living, long-term care and affordable housing. Visit our Technical Assistance Programs overview page to learn more.
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2. What is "assisted living"?
We draw no distinction, other than cost, between affordable assisted living and market rate assisted living. Though there is no one clear definition of assisted living, we look to definitions from two key organizations:
The Assisted Living Federation of America defines assisted living as a special combination of housing, supportive services, personalized assistance and health care designed to respond to the individual needs of those who need help with activities of daily living ("ADL") and instrumental activities of daily living ("IADL"). Supportive services are available, 24 hours a day, to meet scheduled and unscheduled needs, in a way that promotes maximum dignity and independence for each resident and involves the resident's family, neighbors and friends.
The Centers for Medicare and Medicaid Services states defines assisted living as: "a type of living arrangement in which personal care services such as meals, housekeeping, transportation, and assistance with activities of daily living are available as needed to people who still live on their own in a residential facility. In most cases, the "assisted living" residents pay a regular monthly rent. Then, they typically pay additional fees for the services they get."
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3. What is a "Green House" home?
Supported by THE GREEN HOUSE® Replication Initiative, Green House® homes are small self-contained dwellings for groups of 6 to 10 elders who require skilled nursing care. A Green House® home is designed to look like a private home or apartment in the surrounding community. A radical departure from traditional skilled nursing homes and assisted living facilities, these special residences alter facility size, interior design, staffing patterns, and methods of delivering skilled professional services. Developed by Dr. William Thomas and rooted in the tradition of the Eden Alternative, a model for cultural change within nursing facilities, The Green House® project is intended to de-institutionalize long-term care by eliminating large nursing facilities and creating habilitative, social settings. Its primary purpose is to serve as a place where elders can receive assistance and support with activities of daily living and clinical care, without the assistance and care becoming the focus of their existence.
See more Green House® FAQs.
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Lending
1. Do you have a product that meets my needs?
NCB Capital Impact offers a variety of traditional and non-traditional loan products to help you develop and grow your organization. Some products are part of innovative lending programs, established in partnership with key market players. If you have a need that is not addressed, please contact us. We pride ourselves on creative solutions.
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2. How fast will I get a response?
Once you have submitted a complete preliminary package for NCB Capital Impact to review, you should hear back from us within 10 business days regarding an initial proposal.
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3. What rates and terms do you offer?
NCB Capital Impact is proud to offer flexible and innovative financing solutions, so rates and terms do vary by product, program, and your organization's status. Select terms, applications and other loan documents are available on our Loan Applications page. To learn more, contact us.
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4. What costs and fees will I be responsible for paying?
Most of our loan programs include commitment fees plus legal and other closing costs, such as third party reports. Check with your lender to learn more details related to your particular transaction.
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5. What is your average credit criteria?
Generally, we consider: (a) Financial viability as measured by the cash flow of the borrower, (b) Collateral as measured by appraised value and loan-to-value amount, and (c) Experience of management with administration, finances and real estate projects.
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6. What information will I need to gather and provide in the loan underwriting process?
In order to ensure a fast and smooth underwriting process, you should gather the following preliminary information as soon as possible:
- Last three years of financial statements
- Most recent year-to-date interim financial statements and copy of budget for current fiscal year
- Description of project
- Preliminary cost estimate and financing need
Each project will have particular requirements. Completed loan packages will include, at a minimum, the items below. However, these items are not needed during the preliminary stage.
- Resume of key staff including principal and founders
- Names and occupations of board members
- Copy of Articles of Incorporation and Bylaws
- Financial projections for next 3 – 5 years
- Appraisal and Environmental Survey (typically ordered by NCB Capital Impact)
- Construction loans will require additional documentation such as contracts with architect and general contractor, architectural drawings and construction specifications and project timeline.
Schools will also need:
- Copy of charter application and charter approval (if a Charter School)
- Background and description of curriculum
- Current level of enrollment and/or projected level of enrollment
- Grade levels served
Health centers will also need:
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About this Website (Accessibility, Security,...)
1. Why should I register and create a User Profile on ncbcapitalimpact.org?
As a registered member, you will enjoy full and free online access to valuable NCB Capital Impact tools and resources. When you log-in, you can: contact us online more quickly (as online forms will be pre-filled with your information); manage your mailing and eNewsletter selections; and download special guides and resources that are unavailable to non-registered visitors. Rest assured that your personal information will never be shared with vendors or other external parties. You can update your User Profile and change your email/password at any time.
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2. What if I forget my password?
If you forget your password, simply click on the Forgot Password link (under the "Email" and "Password" boxes on the right side of your screen). After you enter the email address used on your initial registration and click on "Submit," your password will automatically and immediately be emailed to you.
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3. How do I change my password?
To change your password, simply revisit your User Profile, enter your new password in the "Password" field, then click "Submit".
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4. Why am I having trouble viewing/navigating the website? What browsers work best?
Although we want every visitor to have the best possible experience on our website, we understand it is impossible to provide web pages that work identically, efficiently, and effectively with all browsers. For NCB Capital Impact to provide you a consistent visual presentation and maximize the privacy of your information, you will need a relatively current and capable browser. For example, the browser must support JavaScript, Cookies, and Secure Sockets Layer (SSL), an encryption standard for browsers.
It is strongly recommended that our visitors:
- use Internet Explorer 5.x or higher
- use a 800 x 600 screen resolution or higher
- turn javascripting and cookies on
If you have trouble viewing any part of our website, or if your browser and computer combination cause pages to be rendered unreadable, please let us know so we can address the problem. Please contact us using our online form and include your browser (name, version) and computer type.
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5. What should I do if I have technical or accessibility problems with your website?
We are committed to providing you with an accessible and error-free website. To report a problem, please contact us using our online form or call our webmaster directly at (703) 647-2337.
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6. How secure is my personal information?
Any personally identifiable information (such as name and email address) you provide using our online forms is protected using secure socket layer (SSL) technology with 128-bit encryption. NCB Capital Impact is strongly opposed to spamming and will not sell, trade or share your personal information with any third parties without your prior consent. Read more in our Privacy Policy.
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7. How do I sign up for eNewsletters?
NCB Capital Impact offers two free eNewsletters that are emailed just a few times a year - the general NCB Capital Impact eNewsletter and THE GREEN HOUSE® eNewsletter (related to long-term care). To register for either or both, please create (or revisit) your User Profile-- see the checkboxes under "Mailings and eNewsletters". We will not share your personal information with external parties and you may unsubscribe at any time.
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