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

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Use: Purchase of land or structures and associated predevelopment costs

Amount: Up to $2M

Terms: Up to 60 months, interest only

Mezzanine Loan

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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

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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

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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

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Use: Short-term interim, final gap financing

Amount: Up to $2M

Terms: Up to 24 months, interest only

Equity

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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

Visit our new portal to complete your application today.

100 East Penn Square, Suite #402

Philadelphia, PA 19107

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