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For more information on ICE loans, contact:
Andy Slettebak
Director, ICE
202-333-8931 x135
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Home >Lending >Community Land Trusts & Shared Equity Housing > Borrowing from ICE
Borrowing from ICE
ICE typically loans to community land trusts, limited equity cooperatives, and community-based non-profit organizations that create and preserve housing that is permanently affordable to people with lower incomes.
ICE Loan Terms
Use of Funds: Acquisition, Predevelopment Cost, Rehabilitation/Construction, Foreclosure Avoidance/Purchase from Foreclosure and Bridge to Subsidies
Eligible Borrowers: Community land trusts, limited equity cooperatives or other community-controlled or community-based non-profit organizations - i.e. 501(c)(3) or 501(c)(4)
Loan Size: Up to $500,000. Larger loans can be arranged through participation with other loan funds.
Term of Loans: 6 to 60 months
Interest Rates: Set by ICE Loan Committee.
Fees: 1% origination fee; may be funded from the loan.
Security: Generally required. Unsecured loans are available with strong financial statements or guarantees.
Want to Learn More or Begin an ICE Loan Application?
Click here to download a Loan Pre-Application >> and then give us a call at (202) 333-8931 x135 or send an email to .
Looking for additional information on Community Land Trusts?
The National Community Land Trust Network is a membership organization with valuable resources for groups and individuals interested in community land trusts. Link to their website at: www.cltnetwork.org.
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ICE's Lasting Impact in Albuquerque
"On 27 acres in the heart of Albuquerque, Sawmill Community Land Trust is revitalizing a neighborhood to provide affordable access to land, housing and jobs for community residents. From our first steps in 1997, ICE has been a valued partner, first offering technical assistance as we established the land trust and then providing a loan to support our growth and continued development. ICE still stands with us today as we prepare to break ground on Sawmill Senior Housing, a 46-unit low income senior rental community, the next step toward realizing the Arbolera de Vida (Orchard of Life) vision."
Connie M. Chavez
Executive Director
Sawmill Community Land Trust
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