Non-profit affordable housing builders know that a lack of early investment in the pre-construction phases restricts the speed and scale of development. That’s where the Accelerator Fund’s Pre-Construction Loans come in.

We provide low-cost, flexible and patient loans to support expenses during the early phases of development when capital is the hardest to find.

Pre-Development Loan

To help with soft costs associated with rezoning and development permit processes. These loans provide essential risk capital as the project advances into securing municipal approvals and more detailed design and planning.

• Offered at a rate of 2% simple interest.
• Repayable upon the first draw of construction financing.
• The loan proceeds must be spent on real project costs outlined in the submitted project budget.
• Terms and conditions apply.

Pre-Construction Equity Loan

The longer-term patient nature of this loan provides greater financial stability for a project by allowing organizations to carry capital into the construction and occupancy phases, and can remain in a project up to 5 years post-occupancy.

• Offered at a rate of 2% simple interest.
• Repayable upon the first refinancing of a take-out mortgage, after five years of operations.
• The loan proceeds must be spent on real project costs outlined in the submitted project budget.
• Terms and conditions apply.

Acquisition Loan

Allows organizations to compete with investors and market developers on real estate acquisition opportunities by providing capital for down payments and short-term holding costs required to secure land and close on acquisition deals for buildings.

• The interest rate and repayment terms are determined on a case-by-case basis depending on the project needs and timelines.
• Terms and conditions apply.

Eligibility Requirements

• You are a not-for-profit, cooperative, First Nation government or Indigenous organization.
• You have site control of land, either through ownership or a long-term lease.
• You have a viable project proforma that includes a cash-flow for how the project and future operations will be sustained.
• You have a viable project and business plan.