Community Development Lending

Cinnaire Low-Income Housing Tax Credit funds have been used to create tens of thousands of affordable housing units to date.

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Community Development Loans

When people have access to the opportunities provided by living in healthy communities, they can break through barriers to success. As a mission-driven nonprofit lender, we work to achieve this vision by creatively delivering needed capital to the projects that support economic development and healthy communities, including nutritious food programs, job training centers, health and education facilities, and mixed-use and affordable housing. We realize the importance of fostering deep connections with communities to understand their needs and work with them to achieve their goals.

We initially focused our community development lending on three Priority Cities--Detroit, Michigan; La Crosse, Wisconsin; and Wilmington, Delaware--places where we have roots and relationships and can leverage our work, market knowledge, past investments and relationships to maximize our impact. We've also implemented a longer term goal to expand our program to Cinnaire's larger footprint across the Midwest and MidAtlantic.

Cinnaire is digging deep in these key locations to provide support services to local developers and nonprofits, especially those owned by People of Color, to bring community development real estate projects to fruition. We work in partnership with other CDFIs in these cities to increase the flow of accessible capital and capacity.

It takes more than good intentions to transform communities.
It takes capital, expertise and trusted partnerships.

Apply for Financing

Resources to Support Your Project Planning

Once you've downloaded and completed these forms, please send to Chase Schulte, Lending Officer at Cinnaire.

Financing Programs

We provide a variety of loan products that include term loans and lines of credit that support healthy communities:

  • Housing
  • Commercial real estate
  • Community facilities, including education and job training, health care and healthy food

Loan Products

We work to match your needs with the right products. Our financing tools support everything from acquisition to permanent financing. Our experience with complex projects in underserved markets utilizing federal, state, and local subsidy programs will help you get your project done. We offer: acquisition loans; leasehold improvements; construction; pre-development; mini-perm financing; new markets tax credit leveraged loans; equipment; line of credit and bridge loans.

Loan Purpose

To qualify for financing, projects must primarily serve low-income communities or low-income persons earning 80% or less of the Area Median Income or be located in low- or moderate-income census tracts.

We prioritize projects with:

  • A clear demonstration of the social benefit (i.e., job creation, wellness, education, and training in underserved neighborhoods), and where applicable
  • A goal of addressing community needs

Loans can be used for:

  • Purchase of a property intended for community facilities and property intended for other community development needs
  • Construction, pre-development costs, renovation, and leasehold improvements of a building intended for community development needs
  • Refinancing existing debt related to eligible community development needs
  • Equipment
  • Line of credit to support operating cash flow.
  • Bridge financing to monetize grants and contracts that support community development needs

Eligible Borrowers

Eligible Borrowers Qualifications

  • Nonprofit and for-profit entities that support and contribute to better outcomes for communities and individuals in need
  • Minimum of 3 years of operation
  • Minimum operating budget of $1,000,000 (exceptions to this eligibility requirement are considered on an individual basis)

Loan Amounts

  • Minimum loan amount $250,000
  • Maximum loan amount $3,000,000 with larger loan sizes considered on an individual basis

Loan Terms

  • Acquisition, mini-perm, and/or renovation loans may have terms not exceeding 7 years with an amortization not exceeding 20 years
  • Equipment loans may have terms not exceeding 2 years
  • Pre-development loans may have terms not exceeding 24 months
  • A line of credit may have an initial term not exceeding 12 months

Pricing

  • To be determined at the time of the loan request.

Loan Fee

  • Origination fee of 1%
  • All lender costs associated with closing the loan

Collateral

  • Acquisition and/or renovation as well as construction loans will require applicable real estate pledged as collateral
  • Pre-development, leasehold improvements, equipment, and working capital will require a pledge of all available collateral
  • A line of credit will require a pledge of account receivables
Urban Bike Project refurbished building

For More Information, Contact:

Sarah Greenburg
President
Cinnaire Lending

(608) 350-2025

Sarah Greenberg headshot
Sarah's Bio

Our Locations

Home Office - Lansing
1118 South Washington
Lansing MI, 48910

Indianapolis
320 North Meridian, Suite 516
Indianapolis IN, 46204

Wilmington
100 W. 10th Street, Suite 502
Wilmington, DE 19801

Chicago
225 West Washington, Suite 1350
Chicago, IL 60606

Madison
10 E. Doty Street, Suite 617
Madison, WI 53703

Grand Rapids
100 Cesar E. Chavez Ave., Suite 202
Grand Rapids, MI 49503

Detroit
2111 Woodward Avenue, Suite 600
Detroit, MI 48201

Milwaukee
231 E. Buffalo Street, Suite 302
Milwaukee, WI 53202

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