This bid is for affordable homeownership revolving loan fund administration and lending services throughout Washington State, United States.
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What the job is
Fund and term: Proposed $10 million revolving fund; December 15, 2026–December 15, 2031.
Qualifications: Certified CDFI or mission-aligned financial intermediary with lending authority, at least five years of loan fund administration or construction lending experience, and statewide operating capacity.
Administration and lending: Establish fund policies, financial controls, and accounting systems; market financing, underwrite and approve loans, provide borrower technical assistance, service loans, manage risk, and recycle repayments.
Eligible projects: Nonprofit affordable homeownership developments using 2D panelized or 3D modular construction, shared-equity ownership, and at least 50 years of affordability, primarily serving households earning 50%–80% of area median income.
Partnerships and reporting: Attract additional investment, develop financing partnerships, and provide quarterly and annual lending, housing outcome, portfolio, and affordability reports.
Pricing: Itemize administration, origination, servicing, staffing, expenses, and borrower fees. The proposed funding cost is 0.5%, with borrower principal and interest deferred until loan maturity or permanent financing closes.
XL Eagle