The Leviticus Fund supports transformative solutions that serve low-income and vulnerable people by combining flexible capital from social impact investors and contributors with knowledge-sharing to create sustainable and affordable communities. The Fund was established in response to the affordable housing and community facility needs of low-income communities across New York, New Jersey and Connecticut. As a regional CDFI working in the tri-state area, Leviticus fills a distinct niche within the community development sector. We provide a full range of loan products – predevelopment, acquisition, construction, bridge, mini-permanent and revolving development facility loans, and can lend up to $3.5 million, at a fixed rate of 5.5%.
The Opportunity
1) Housing and Community Recovery Program
Our donors and investors trust Leviticus to use their money to promote social justice and equitable opportunities.
We serve individuals and neighborhoods who are often forgotten. We use the capital we gather to finance homes as well as facilities for social service agencies, early learning and childcare centers, schools, primary healthcare centers, and businesses. Our investments help communities recover by lifting up people and families.
Recent borrowers include:
· Rockland Homes for Heroes: Creating supportive housing for homeless veterans.
· Newburgh Community Land Bank: Promoting homeownership and addressing the affordable housing gap
· Fortune Society: Creating supportive and affordable housing for the formerly incarcerated in East Harlem
· Ashlar Construction: Developing a grocery store, health clinic and pharmacy in a high-poverty area in the East End of Bridgeport CT
When a nonprofit looks to Leviticus to help finance a project in their community, we treat them as true partners in the shared cause of promoting social justice and serving those in need.
Our loans have flexible terms and fixed, low interest rates. We underwrite efficiently so our partners can receive the time-sensitive capital they need. We do not charge a closing fee, a prepayment fee, or lender legal fees.
We also offer free, tailored technical assistance to help our borrowers strengthen their projects and build their capacity. Throughout the process, we help them access other resources that bolster their ability to succeed.
Investment Opportunity:
Amount offered: $2 Million
Security type: Debt