Low Income Investment Fund
The LIIF or Low Income Investment Fund is committed to generating investment opportunities for people and communities that belong to the low income group. Serving the poorest clients in the poorest communities, LIIF is a steward for capital that is invested in housing, child care, and community building projects and initiatives, as well as education LIIF also works as a liaison between capital markets, private industry, and lower income neighborhoods.
What Low Income Investment Fund Does
LIIF provides capital and technical assistance to help lower income communities with funding and building of schools, child care programs, affordable housing, and other revitalization programs for the community at large.
What Low Income Investment Fund Believes
LIFF believes that sound public policy matters to low income people and neighborhoods. LIIF therefore partners with leading advocacy groups and community development organizations in an effort to support communities.
Low Income Investment Fund desires to help build strong, healthy communities by providing a bridge between capital markets and low income neighborhoods. LIIF is concentrated in three markets, the New York Metropolitan Area, Northern California and Southern California. The reason for the concentration is simple. These areas have the highest in the cost of living and contain nearly 20% of the nation’s total poverty population. LIIF’s lending policies are uniquely tailored to address the problems of the most damaged and challenged communities and meet their needs.
Low Income Investment Fund offers service to those populations that are hard to reach out to, and provide opportunities to help low income families build savings and overcome conditions or practices that reduce their assets.
What are Low Income Investment Fund Products?
Pre-development Loans and Lines of Credit: These are available for housing, community facilities, child care centers, and educational facilities. These are $3.5 million secured loans.
Acquisition Loans, Bridge Loans, Construction Loans, and Mini-Permanent Loans: These are available for housing, community facilities, child care centers, and educational facilities. There is a maximum of $750,000 for an unsecured loan, and a percent of LIIF capital ($3.5 million) for secured loans.
Low Income Investment Fund-Direct Loans
LIIF lends capital through a fund called the RLF also known as the Revolving Loan Fund. This is for acquisition lines of credit, predevelopment needs, construction financing, or mini-permanent loans. The RLF finances projects in each of the program areas, and the LIIF concentrates in LIIF’s other loan fund the ABCD which is particularly devoted to loans for child care centers in the state of California. ABCD fund loans are made for acquisition, construction, feasibility planning, and long term real estate financial needs.
When children can be enrolled in high-quality early education programs, the children and the community both benefit. Statistics show that that the better the child care and education, the better chance a child has of becoming a productive member of society. Unfortunately many children, some with the greatest need, will be turned away because of budget cuts and lack of room. Low Income Investment Fund tries to bridge this gap by providing financial help for others to design, develop, finance, and maintain appropriate buildings to support the type of programs young children need.