As a certified Community Development Financial Institution, INHP is a catalyst for the development and preservation of affordable housing and homeownership strategies that align with Marion County neighborhood priorities.
COMMUNITY LENDING OPPORTUNITIES
INHP provides financing to nonprofit borrowers, which enables them to acquire, aggregate and hold sites to allow time for optimal strategic development.
INHP supports initiatives aimed at constructing or reconstructing safe, decent and affordable housing. Funds are deployed through INHP or one of our community partners.
LINES OF CREDIT
INHP offers lines of credit to incentivize revitalization efforts that turn distressed, vacant and abandoned properties into community assets.
Maximum aggregate outstanding: $500,000 secured; $200,000 unsecured. Revolving lines of credit can be no more than $250,000.
Terms: Up to 12 months with an option to extend 60 days up to a maximum of 120 days.
Rate: Starting at 4.5 percent fixed rate secured or 6 percent fixed rate unsecured.
Loan-to-value ratio: Generally up to 90 percent of lesser of cost or appraised value.
Repayment: Balloon loans with interest payments determined on a case-by-case basis; no prepayment penalties.
Fees: Greater of $500 or .5 percent of loan amount.
Contact Charlie Mercer, Director of Community and Commercial Lending, at 317.610.4602 or firstname.lastname@example.org with questions or to collaborate on meaningful community development projects that will make an impact in affordable housing.