Build with Purpose works with partners to identify various sources of financing for real estate projects including funds from New Markets Tax Credits, state finance agencies and economic development authorities, the US Department of Agriculture, Community Development Financial Institutions and tax-exempt bond issues. In addition to our financing services, Build with Purpose can also work with organizations to look at opportunities to refinance or restructure their outstanding debt and/or consolidate loans.
A few questions to consider when applying for financing include:
- Does your organization have equity in its property? If the property has been owned for a few years and significant amounts of principal are paid down, there could be a number of attractive financing or refinancing options.
- What is the likely interest rate? Interest rates are still relatively low, and a one percent interest rate drop could save an organization hundreds of thousands of dollars over the life of a loan.
- What are the upfront costs for financing and refinancing? Build with Purpose helps organizations to understand the legal and financing costs of taking on debt as well as understanding what is reasonable and unreasonable.
- What form of financing is best? Different organizations and different projects are eligible for different kinds of financing. Build with Purpose helps groups to assess their options and see about the viability of traditional debt, tax-exempt bonds or other structures.
With nearly ten years of experience helping nonprofits to access and secure affordable financing, we understand the management, governance, and financial considerations associated with financing and refinancing.