Developers

WHY PAF IS DIFFERENT

PAF is breaking down barriers to provide more equitable access to capital.

  • Underwrites the project, not the borrower
  • Offers flexible loan products
  • Requires no minimum investment size
  • Evaluates loans with an impact score
  • Uses income approach for appraisals
  • Reduces collateral requirements
  • Provides below-market interest rates
  • Keeps fees low
  • Lends at an above average loan-to-value ratio
  • Allows early repayment without penalty
  • Provides support services for developers

PRODUCTS AND TERMS

Acquisition Loan

View

Use: Purchase of land or structures and associated predevelopment costs

Amount: Up to $2M

Terms: Up to 60 months, interest only

Mezzanine Loan

View

Use: Subordinate construction and/or permanent debt

Amount: Up to $2M

Terms: Up to 84 months, up to 35-year amortization, interest only during construction

Predevelopment Loan

View

Use: Predevelopment costs, including site preparation, architecture/engineering, environmental diligence

Amount: Up to $750,000

Terms: Up to 60 months, interest only

Mini-Perm Loan

View

Use: Short-term debt for purpose of stabilizing financing

Amount: Up to $5M

Terms: Up to 60 months, up to 35-year amortization

Bridge Loan

View

Use: Short-term interim, final gap financing

Amount: Up to $2M

Terms: Up to 24 months, interest only

Equity

View

Use: Construction or permanent financing

Amount: Up to $2M

Terms: Up to 120 months, 5-8% annual pref, 12% 10- year IRR

SUPPORT SERVICES

Philadelphia Accelerator Fund will provide hands on technical assistance to borrowers and prospective borrowers, to increase access for developers of all scales to the capital they need to invest in our communities.

SUPPORT SERVICES

Philadelphia Accelerator Fund will provide hands on technical assistance to borrowers and prospective borrowers, to increase access for developers of all scales to the capital they need to invest in our communities.

APPLY TODAY

1234 Market Street, 16th Floor

Philadelphia, PA 19107

Stay informed on PAF's progress!