NEIGHBORHOOD PROGRESS PROVIDES REAL ESTATE FINANCING TO CATALYTIC, COMMUNITY PROJECTS THROUGH ITS WHOLLY-OWNED SUBSIDIARY, VILLAGE CAPITAL CORPORATION.
Village Capital was founded in 1992 and is a CARS-rated, certified Community Development Financial Institution with the U.S. Department of Treasury’s CDFI Fund.
Village Capital finances market-rate and affordable residential, commercial, retail, industrial, as well as mixed-use real estate projects in Northeast Ohio. Village Capital primarily provides pre-development, acquisition, construction and mini-perm loan facilities to its borrowers, both for-profit and non-profit.
Village Capital’s objective is to approve financing for catalytic projects that have community support and that advance the strategic efforts of a community. Village Capital is strong community partner that brings local expertise and financing assistance to high profile and challenging development projects.
Over our history, Village Capital has provided over $65 million in loans to support over $873 million in total development costs for more than 200 separate real estate projects. Village Capital’s financing activities have helped to create and preserve over 7,400 residential units and more than 1.7 million square feet of commercial space.
For more information, contact Kandis Williams, Vice President for Community Finance, at 216.453.1454 or firstname.lastname@example.org.
Effective October 1, 2013, Village Capital Corporation’s Loan Fees shall be as follows:
Application Fee – $250 due upon submission of loan request
Origination Fee – 1% of total approved loan
50% (i.e., .5% of the total approved loan) due at Commitment (i.e. upon execution of the term sheet)
Balance, less the application fee of $250, will be due at closing (i.e., .5% of the total approved loan – $250)
NOTE: All outstanding legal bills for any project (where the related party is liable) must be paid prior to underwriting any new loan for consideration by VCC’s Loan Committee/Board.
- The Cleveland Foundation
- Enterprise Community Loan Fund
- The George Gund Foundation
- Greater Cleveland Partnership
- Huntington Bank
- US Bank
- U.S. Department of Treasury’s CDFI Fund