Services: Loan Providers (Non-traditional)

Contact: Lars Kuehnow, Neighborhood Program Officer

Address: 202 W Superior St 401, Duluth, MN 55802

Phone: 218.727.7761



The Local Initiatives Support Corporation (LISC) is approved as a USDA Community Facilities (CF) Re-Lender. Loans must meet USDA requirements, but LISC will offer streamlined application processing.

Loan Types: Permanent, or construction to permanent loans

Eligibility: Nonprofits or public entities

Property/Project Type: New construction, expansion and renovation of community facilities including: health care facilities, transitional housing (including substance abuse recovery housing), educational and child care facilities, community centers, museums, libraries or public buildings, or pther essential community facilities.

Eligible Locations: Rural areas with population under 20,000; preference for high-poverty or persistent poverty areas

Loan Amount: $100,000 to $8,000,000

Interest Rate: 4.25% – 5.5%, fixed for loan term

Term: Up to 40 years, fully amortizing

Repayment: Interest only during construction; fully amortizing up to 20 year term

Loan Fees: 1% fee plus legal costs

Collateral: Real estate collateral

All loans subject to underwriting and credit approval. Terms subject to change.