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Mhic, LLC
Mhic, LLC
Amount
Varies
Deadline
Rolling
Odds
Not published
Effort
1 to 3 days
Can you get this?
✓Serves New England communities
✓Open to nonprofit and for-profit developers
✓Funds affordable housing or community development projects
✓Boston Acquisition Fund: for nonprofits and community land trusts
Your real odds
MHIC has deployed $3.9 billion over 35 years, but lending is selective and relationship-driven, especially for lines of credit.
Lines of credit go only to borrowers with long-standing relationships at MHIC, so your odds depend heavily on which program you are targeting. The Boston Acquisition Fund, for example, serves a narrower pool of nonprofit and mission-driven borrowers than other products.
What it takes
Identify the right program for your project1 to 3 days
Contact MHIC to discuss your project1 to 2 weeks
Prepare project and financing details2 to 4 weeks
Worth knowing
MHIC explicitly finances deals that conventional lenders have passed on in underserved neighborhoods, so if your project serves a low-income community and has already been turned away elsewhere, that history belongs in your application.
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