Nonprofit Finance Fund (NFF)

NFF works toward a more just and vibrant society through: financing that helps nonprofits and social enterprises expand opportunity in low- and middle-income communities; consulting that helps nonprofits and funders connect money to mission and community impact; partnering with service providers, funders, and investors to turn money and goodwill into positive outcomes; and learning that shares experiences and expertise - from ideas to anecdotes to cutting-edge data and analysis. Nonprofit Finance Fund (NFF) works toward a more equitable, responsive, and valued social sector. We provide financing and consulting to help nonprofits and their funders better connect money to mission results. Since 1980, we have provided $942 million in financing and access to additional capital in support of over $2.8 billion in projects for thousands of organizations nationwide. To support the supply of affordable and flexible capital to charter schools, NFF works to support flexible loan terms to high-capacity schools serving low-income families that cannot meet their facilities needs with traditional financing products. Our products include one or more of the following features: (a) equity requirement of 0 - 10%; (b) Below market interest rate pricing. Typically less than 7.5%; (c) Loan-to-Value ("LTV") exceeding 90% on acquisition, construction and construction converting to permanent loans; Flexible collateral requirements for leasehold improvements; (e) subordinate debt to serve as the equity gap required by senior lenders and lower the overall cost of borrowing; (f) capitalized interest payments on predevelopment loans, and extended interest only periods on construction loans and construction converting to permanent loans; (g) amortization periods of up to 25 years on construction converting to permanent and permanent financing loans; (h) available to schools in their first three years of operation or those that have not been through a charter renewal; (i) loan terms that extend past charter renewal; (j) available to independent charter schools (not part of a CMO network); (k) no guaranty fee, typically 1%, at closing credit enhancement fee.