In 2012, CLF made fifteen loans for a total of $3.9 million in financing for community development projects throughout the Lowcountry. Most recently, CLF closed on five loans, three of which are for affordable housing development and/or rehabilitation, and two for community facilities.
Transitional Facility for Homeless Veterans, Crisis Ministries
Loan Amount: $500,000
Type of Loan: RLF Community Facility Loan
Purpose: To finance the construction of a 40-bed transitional facility for homeless Veterans in Charleston, SC; all units will serve Veterans living at or below 50% AMI.
Working Capital Loan, Humanities Foundation
Loan Amount: $500,000
Type of Loan: RLF Community Facilities Loan
Purpose: To enable the Humanities Foundation to continue producing affordable housing in the Lowcountry by assisting with predevelopment costs for both commercial and LIHTC housing projects. All housing units will be made available to individuals and families living at or below 120% AMI.
Sherrer Apartments, Tri-County Development Corporation
Loan Amount: $350,000
Type of Loan: RLF Permanent Loan
Purpose: To renovate 14 apartments in Georgetown, SC for rent to low-income households (51% to 80% AMI).
29 Sans Souci, Charleston County Human Services Commission, Inc.
Loan Amount: $150,000
Type of Loan: RLF Bridge Loan
Purpose: To renovate one house in Charleston, SC for sale to a low-income household (51% to 80% AMI).
Mulberry Street, Charleston County Human Services Commission, Inc.
Loan Amount: $150,000
Type of Loan: RLF Permanent Loan
Purpose: To construct a duplex in Charleston, SC for rent to a low-income household (51% to 80% AMI).
CLF provides financing for infrastructure, acquisition, predevelopment, construction, rehabilitation, mini permanent financing, working capital, and machinery and equipment. Loans generally range from $10,000 to $500,000 with rates starting at prime; loans up to $3,000,000+ available.
For more information on our lending program, please contact Patrick King at Patrick@sccommunityloanfund.org.
