THE GREEN HOUSE® Pre-Development Loan Fund (PDL)
THE GREEN HOUSE® Replication Initiative (GHRI) Pre-Development Loan Fund (PDL) is a loan program designed to provide hard-to-obtain predevelopment dollars to assist projects assess project feasibility, obtain control of a site, and fund architect, engineering and other third party expenses. If a funded project is deemed by NCB Capital Impact to be infeasible, NCB Capital Impact, in its sole discretion, may forgive all or a portion of the pre-development loan.
Eligibility and Terms
- Eligibility: Project is selected as a GHRI project (must have letter from GHRI confirming selection); project is acceptable to NCB Capital Impact at its sole discretion; the borrower must be a not-for-profit organization in good standing
- Maximum Amount: $125,000
- Borrower Match: At least 25% of the loan amount, not less than $10,000 in cash
- Interest Rate: Fixed 6% interest rate
- Term: Up to 24 months
- Repayment: All accrued interest and outstanding principal balance is due at the earlier of (i) receipt of first construction loan draw or (ii) 24 months from the PDL closing date
- Restrictions: No more than 5% of the loan amount may be used for site control purposes; loan proceeds may not be used to pay borrower staff salaries; loan proceeds may not be used for fundraising purposes; PDL reimbursement of architect and developer fees are limited to the lesser of $25,000 or 25% each (total of 50%) of the outstanding loan amount
Pre-Development Loan (PDL) fact sheet (PDF, 1,111 KB)*
To request a PDL application, contact Marilyn Ellis at (703) 647-2313.
Note: THE GREEN HOUSE ® is a registered trademark. Only projects with an executed sub-license agreement may use the "Green House" term, or a confusingly similar term, in association with a long-term care facility.
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