Building Homes & Prosperity
for Hudson Valley Residents
For over 30 years, we’ve partnered with for-profit and nonprofit housing developers to expand affordable housing opportunities for residents in Westchester and the Hudson Valley. As an innovative lender, we are committed to helping developers overcome financial obstacles, and we work collaboratively and creatively to address the capital needs of the projects we assist. Eligible projects include new construction, rehabilitation, adaptive re-use, multi-family, single-family, mixed-use, mixed-income and special needs housing.
Our Affordable Housing Lending Program Includes:
Pre-Development Loans: Ranging from $5,000 to $1,000,000.
Bridge Financing: Up to $500,000.
Feasibility Loans: Up to $25,000 available in Westchester. In some cases, these loans may be forgivable.
Special Financing: We work with developers, on a case-by-case basis, to address financing gaps that don’t fit easily into other lenders’ portfolios.
New York Forward Loans for Landlords
Building owners experiencing reduced cash flow due to tenants impacted by COVID-19 can now apply for lending up to $100K. We are proud to partner with Community Preservation Corporation in this loan program for property owners and landlords in Westchester County and the Hudson Valley.
The New York Forward Loan Fund was created to address the capital needs of New York’s small business owners, nonprofits, and small landlords created by the COVID-19 economic crisis. The Governor’s Office launched this Fund with The Community Preservation Corporation (CPC) as its Small Landlord CDFI Partner. Building owners experiencing reduced cash flow due to tenants impacted by COVID-19 may apply for NYFLF loans with assistance from CPC and local CDFI partners, like us!
Maximum loan amounts available through the NYFLF are determined by the lesser of (a) $100,000 or (b) the projected reduction in rental income over three months based on actual reductions in rental income for the month of April or May 2020.
For more than 30 years, we’ve been proud to be part of a community of local lenders committed to equitable lending practices in Westchester County and the Hudson Valley. Our impact includes:
- $35M in lending solutions in for residents of who earn 80% or less of the area median income
- $500M in additional public and private capital
For more information about our affordable housing lending program, contact Elissa Bard, our VP of Housing, below.
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