The North Carolina Community Development Initiative, Inc.

Initiative Capital

Lending for Strategic Investment

The North Carolina Community Development Initiative Capital, Inc. is a non-profit lender created to encourage investment in low-wealth communities. Working closely with the Initiative, its parent company, Initiative Capital provides loan funding and technical assistance to community development corporations (CDCs) and other mission-based ventures. We are certified as a Community Development Financial Institution (CDFI) by the US Treasury.

Initiative Capital is creating economic opportunity where traditional sources of financing are unavailable. By stimulating, coordinating, planning, improving, expanding and encouraging community economic development, we aim to improve the quality of life for low and moderate income communities and individuals across the state of North Carolina.

Initiative Capital offers three lending products; each one is designed as an affirmative response to the financial/lending needs of the State's non-profit community economic development industry.

Flexible Credit Land Acquisition Permanent Financing

This site is designed to help you learn more about Initiative Capital and how we can meet your financing needs. Below you will find links to loan application tools, reference materials and additional resources designed to enhance your experience.

Online Resources

Loan Applications
Online Application for Loan Financing	Electronic application for Flexible Credit, Land Acquisition and Permanent Financing products. Download and submit the application files in one convenient location.
NCCDI / First Citizens Construction Loan Application	The Initiative and First Citizens Bank have partnered to facilitate the deployment of $100MM in financing to mature CDCs across North Carolina for the construction or revitalization of affordable housing (including multi-family rental housing) and community development projects.
Lending Products - Terms and Conditions
Flexible Credit	The purpose of the Flexible Credit Financing Program is to provide bridge financing where firm takeouts exist (cannot be used to bridge other funding from the Initiative or Initiative Capital).
Land Acquisition	The purpose of the Land Acquisition Financing Program is to allow borrowers to acquire undeveloped land or land with highly depreciated improvements for development or redevelopment purposes (not for speculation).
Permanent Financing	The purpose of the Permanent Financing Program is to provide borrowers with a financing option for commercial and multifamily real estate projects either independently or in tandem with other lenders and funders.
Resource Materials
Loan Payment & Amortization Calculator	This Excel file contains two separate tools. The Loan Payment Calculator creates monthly and annual payment schedules based on loan amount, rate, amortization period and balloon payment. The Loan Amortization Tool creates a full amortization table based on loan amount, rate and amortization period.
Criteria for Community Impact	Each loan funded by Initiative Capital must clearly demonstrate that it meets the community impact standards under at least two of the listed criteria categories.
Criteria for Funding Consideration	Before submitting an application, this chart will help you to determine if your project is a potential candidate for Initiative Capital funding.
Feasibility Study Outline	Information to be included in feasibility studies for projects under consideration for development and/or financing (information needs may vary based on project type).
Glossary of Common Terms	A helpful list of terms and definitions that are central to community economic development.
Development Budget Proformas
Single Family Projects	Automatically calculating Excel spreadsheets designed to assist in project planning and feasibility determination. Part of the Online Application for Loan Financing, the proformas have been made available here for download and use as reference tools.
Multi-Family Projects
Commercial Projects
Mixed Use Projects
Operational Budget Proformas
Multi-Family Projects	Automatically calculating Excel spreadsheets designed to estimate the operating cost of your project once construction has been completed. Part of the Online Application for Loan Financing, the proformas have been made available here for download and use as reference tools.
Commercial Projects
Mixed Use Projects

Adobe Acrobat Reader is required to view PDF files.
Download Acrobat Reader.