I. Financing

[ I. Financing  | II. Terms & Rates  |  II. Collateral & Fees ]

Delivery System

Enchantment Land CDC, as administrator of the NMRIRP (New Mexico Rural Intermediary Relending Program), will utilize the following delivery mechanism to fund projects' eligible costs:

Direct Funding: ELCDC may fund a project, less the equity requirement. All other terms and conditions of this type of funding will meet the program requirements. Projects that fall under direct Funding may have certain characteristics that conventional lenders will deem as too risky to undertake, start up businesses for example.

Loan Size

The maximum loan size for ELCDC's NMRIRP will typically be $50,000, though larger requests may be considered on a case by case basis.

Loan to Value

The maximum loan to value will be 75%. USDA RIRP regulations dictate a minimum 25% private equity position.