Section 108 Loan Program
Description: Offers a minimum of $2 million in direct "gap" financial assistance for larger commercial and industrial real estate projects.

Eligibility: Funds must be used for "eligible activities" which include acquisition, construction or renovation, costs of fixtures and equipment, soft costs (such as legal and loan fees), land assembly for project redevelopment, relocation of a business to the City, and development of an incubator or industrial park.

Los Angeles Industrial Development Authority Bond Program
Description: Offers both taxable and tax-exempt financing for commercial, industrial, and non-profit development projects at favorable interest rates, usually below conventional borrowing cost. Maximum financing participation is 80% of the project costs, or appraised value of the underlying property.

Eligibility: Qualified projects must fulfill a public benefit criteria, such as job creation for low and moderate income City residents. Other necessary requirements include a history of good credit and evidence of sufficient income to service the debt.

 

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