Our Affordable Housing Lending Program Includes:
Pre-Development Loans: Terms up to 2 years
CCNY provides financing for upfront early stage project expenses including architectural fees, engineering fees, third party studies, environmental due diligence, legal and land use/permitting related costs.
Bridge Loan: Terms up to 2 years
We provide loans to support the development process while the developer is waiting for public subsidies to fund or tax credit equity to be available.
Property Acquisition Loans: Terms up to 2 years
We can combine an acquisition loan with a pre-development loan to enable developers to complete the design and approval process of their project while they apply for state and federal affordable housing funding subsidies. We will consider loan amounts that approach or even exceed 100% of the value of the collateral.
Construction Financing: Terms up to 2 years
We provide short-term financing for construction and disburse funds after review of completed construction work.
Westchester County Feasibility Loans: Pre-development loans up to $25,000 with a term of twelve months available only in Westchester County. In some cases, if these developments do not move forward to construction, these loans may be forgiven.
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.
We partner with both large and small nonprofit and private developers working across New York State including:
Our Impact Numbers
For more information about our affordable housing lending program, contact Elissa Bard, our Senior Vice President of Community Lending, using the form below.
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