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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