Intake Form - Occupancy to Ownership

Intake Form - Occupancy to Ownership
Thank you for your interest in Neighborhood Impact Investment Fund's (NIIF) Occupancy to Ownership program. This program incorporates loan support from the federal State Small Business Credit Initiative (SSBCI) through the Maryland Department of Housing and Community Development (DHCD), in concert with capital from NIIF. NIIF will serve as sole lender and point of contact through this program for loans of up to $1.5 million. For larger loans, NIIF works in partnership with DHCD as co-lender. As a result of the federal source of funds, the loan is subject to the US Treasury's policies which dictate how the funds may be used.

Please complete the below information and submit. If you have questions, please email info@baltimoreniif.org and a member of NIIF's staff will be in contact.
Applicant Information
Contact Person Name

First NameLast Name
Contact Person Email Address
example@example.com
Contact Person Phone Number
Please enter a valid phone number.Format: (000) 000-0000.
Organization's Name
Organization's Website URL
Please describe your organization.
Please provide information about the entity seeking a NIIF SSBCI loan. Please include detail on the legal structure, ownership percentages, years in operation, etc. as well as the types of goods/services provided by the organization and a brief narrative as to why you are applying for a NIIF SSBCI loan at this time.
Business Address

Street Address

Street Address Line 2
CityState / ProvincePostal / Zip Code
Project Address (if different)

Street Address

Street Address Line 2
CityState / ProvincePostal / Zip Code
Loan Amount Requested (USD)
Total Project Cost (USD)
Historic Occupancy Cost - Average annual rent or mortgage payment for last two years.
Current rent or occupancy costs should cover at least 75% of the cost of the loan.
Project Summary
Please include expected use of NIIF loan proceeds, size/square footage of the property, scope of construction/rehab included, etc.
Please detail other types of funding that will be used to support this project.
Examples include equity, grants, tax credits, and/or other sources of capital.
General Information
Attestations
The following business types are ineligible for this program due to federal funding restrictions:
- Adult bookstore, adult video shop, or other adult entertainment facility;
- Check cashing facility;
- Gambling facility;
- Gun shop;
- Liquor store;
- Massage parlor;
- Pawn shop;
- Tanning salon;
- Tattoo parlor;
- Cannabis business;
- Community hall;
- Fire station;
- Hospital;
- and College or University.
Ineligible Project Types
Prohibited Uses of Funds Per US Treasury - SSBCI loan proceeds strictly cannot be used to:
- Purchase any portion of the ownership interest of any owner of the business.
- Purchase, renovate, rehabilitate, or construct real estate exclusively to be leased to a non-affiliated company.
- Develop residential property.
- Repay delinquent federal or jurisdiction income taxes (unless the borrower already has an established payment plan with the taxing authority).
- Repay taxes held in trust or escrow, such as payroll taxes or sales taxes.
- Reimburse funds owed to an owner, which includes repaying an owner's past equity investment or capital injected for the business's continuance.
Prohibited Uses of Funds
Borrower Occupancy Requirements

Under SSBCI guidelines, loans cannot be used for passive real estate investments, which typically involve acquiring or developing property primarily to lease it out or hold it for sale. To ensure a project is eligible, borrowers must meet specific owner-occupancy requirements depending on the nature of the real estate transaction.
New Construction

If the loan proceeds are used to construct a new building, the borrower must occupy and actively use at least 60 percent of the total rentable property once the occupancy permit (or similar authorization) is issued.

Existing Buildings (Acquisition or Renovation)

For projects involving the acquisition, renovation, or reconstruction of an existing building, the borrower must occupy and use at least 51 percent of the total rentable property.

Prohibition on Leased Space Improvements

In any scenario where a borrower leases out an allowable portion of the property, no SSBCI-supported loan proceeds may be used to improve or renovate the space that is leased to a third party.
Will this project involve the acquisition, renovation, construction, or other improvements of real estate property?
If yes to the question above, please select the box that most accurately describes your project.
Sex Offender Disclosure

Per US Treasury Policy, borrowers must assure that no "principal" of the borrowing entity has been convicted of a sex offense against a minor. For a standard business, a principal includes sole proprietors, partners, directors, the five highest-compensated executives, or any direct/indirect holder of 20% or more of the ownership stock.
I attest that that no "principal" of the borrowing entity has been convicted of a sex offense against a minor.
Additional Eligibility Questions

Per US Treasury policy: Total project costs may not exceed $20 million, and loan proceeds may not support the acquisition of an ownership stake in a business.
Will the total costs for the project that this loan may support exceed $20 million?
Will loan proceeds from DHCD or a matching lender support the acquisition of an ownership stake in a business?
Additional Impact Questions
How does financing currently available in the market (e.g. from a bank, CDFI, philanthropic foundation, etc.) fall short of meeting the project's needs?
Please explain how this project will meet the needs of the residents and/or communities it will serve and how the project aligns with a broader community effort. If applicable, please indicate how this project aligns with a community or neighborhood plan or has otherwise received support from the neighborhood.
If applicable, please indicate how the project supports the growth of and/or leverages the success of an existing core asset located within the neighborhood.
Examples of core assets include a public market, a public space, community anchor (hospital, school, etc.), transit corridor, and other housing/commercial developments that have a positive impact on their communities.
Please explain how this project promotes inclusive economic development.
Examples include the provision of community amenities such as grocery, healthcare, or other neighborhood retail, strong local ownership tied to the community, job creation for City residents, etc.
Should be Empty:

Intake Form - Occupancy to Ownership

Applicant Information

General Information

Borrower Occupancy Requirements

Sex Offender Disclosure

Additional Eligibility Questions

Additional Impact Questions