Enterprise has loaned over $160 million to community development organizations throughout California to build over 7,000 affordable homes.
Loan terms are generally two years or less and Enterprise usually requires other sources of financing to be committed prior to the actual funding or disbursement of the loan. Interest rates are typically 7 percent, but may be higher depending upon specific circumstances, with fees of 2 percent of the loan amount due at closing. There is an application fee, credited towards the origination fee at closing.
Loans products available include Predevelopment Loans and Acquisition Loans.
On May 15, 2008 Enterprise launched
the New Generation Fund, a $100 million acquisition and
predevelopment fund for affordable housing development that
will create new opportunities to develop and preserve affordable
housing in the City of Los Angeles over the next ten years.
The New Generation Fund is part of a larger
commitment by Enterprise to affordable housing
development in the City of Los Angeles.
Enterprise would like to acknowledge the following public
agencies, philanthropic institutions and private partners, whose
combined efforts supported the creation of the
New Generation Fund.
The City of Los Angeles
Citi Community Capital
Wachovia
Enterprise Community Loan Fund
Merrill Lynch
MetLife
HSBC Bank USA, N.A.
The California Community Foundation
The Ahmanson Foundation
The Weingart Foundation
Deutsche Bank
- Green Communities loans increase the capacity of affordable housing developers to create housing that delivered tangible health, economic and environmental benefits to low-income families and communities.
- Enterprise Partners Growth Fund offers long-term operating capital for our most experienced and successful partners.
Jacqueline Waggoner
315 W. Ninth Street, Suite 801
Los Angeles, CA 90015
Phone 213.833.7988
Fax 213.833.7989
Email Jacqueline
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