Community Capital Resources, a regional housing and small business organization, provides feasibility loans of up to $25,000 to explore the viability of a potential project by assisting with environmental studies, zoning analyses, architectural/engineering evaluation or site control. Not- for- profit borrowers are preferred and will be required to show 20 perent equity invested in the project. Private developers will need to provide 50 percent equity.Eligible expenses include appraisals, engineering analysis, environmental analysis, financial analysis, option deposit, purchase and sale deposit, zoning analysis and other reasonable pre-site control or pre-acquisition expenses. Loan rates will range between one percent and Prime + 2 percent.

For more information contact:

Community Capital Resources
7 West Cross Street – Suite D
Hawthorne, New York 10532
Phone: (914) 747-8020

The New York State Department of Housing  and Community Renewal offers programs that provide feasibility funding. The Low Income Housing Trust Fund offers “seed funding” and the Housing Development Program offers “pre-development funding.”

For more information contact:

New York State Homes and Community Renewal
Hampton Plaza
38-40 State Street
Albany, New York 12207
Phone: (518) 473-2526

Regional Office:
25 Beaver Street
New York, N.Y. 10004
Phone: (212) 480-7644