One of America's leading nonprofit community development financial institutions (CDFI), IFF strengthens nonprofits and their communities through affordable, flexible lending. We serve nonprofits in Illinois, Indiana, Iowa, Missouri, and Wisconsin, with a focus on those that serve low-income communities and special needs populations.
Since 1988, we have been a trusted partner to nonprofits in every sector, including health care, education, child care, and housing. We help nonprofits grow and successfully complete their capital projects.
Responding to the needs of nonprofits across Indiana
As a nonprofit committed to community development in Indiana, IFF supports organizations across the state by providing financial and real estate solutions to their facility needs. We have been a trusted partner to nonprofits in every sector, including health care, education, and affordable housing. IFF provides financing to nonprofits across the state to address the demand for capital—through our lending and real estate consulting services, we help local nonprofits grow and successfully complete their capital projects.
Today, Senior Loan Officer Steve Bricker continues to bring IFF’s affordable, flexible lending to nonprofits across the state, including child care centers, community development facilities, affordable housing developments, health care clinics, and schools. IFF provides loans up to $1.5 million for real estate acquisition, renovation and construction. Loans as small as $10,000 are available to purchase equipment or vehicles, complete facility repairs, undertake maintenance, or for energy efficiency upgrades.
**IFF is excited to announce the launch of the Indiana Charter School Facilities Loan Fund, made possible through funding from the State of Indiana. Click here for more information about the Fund.**
IFF also now provides real estate consulting services to schools in Indiana. IFF’s Director of Real Estate Services, Indiana Jeff Bennett works with each organization to determine IFF’s scope of consulting services. Schools may choose from a broad range of real estate services based on a proposal tailored to specific needs.
Strengthening nonprofits and the communities they serve
A few highlights of the Indiana agencies we have been proud to work with are below.
Madison County Community Health Center, Anderson, Indiana
IFF provided Madison County Community Health Center in Anderson, Indiana with a $600,000 loan to purchase medical equipment for its new medical and dental wing. The new addition will allow for 19 more medical exam rooms, nine new dental operatories, and add optical, behavioral health, and preventive care education services.
The agency serves over 6,600 clients annually, 56 percent of whom come from low-income households. The expansion will not only provide an up-to-date, adequately sized facility, but during this time of challenging recruitment efforts, it will present a desirable location for doctors to practice.
||Charter School of the Dunes, Gary, Indiana
IFF provided an $817,500 credit enhancement to the Charter School of the Dunes (CSOTD) to help them construct a new 65,000 square foot facility. With the help of IFF’s credit enhancement, CSOTD secured an $8.3 million loan from BMO Harris Bank toward the $13.5 million project within a New Markets Tax Credit (NMTC) structure. JPMorgan Chase is the NMTC investor and National New Markets Fund provided the NMTCs.
The new facility will be LEED™ Silver certified and consist of administrative offices, a gymnasium/auditorium, a cafeteria, library, art room, environmental lab, sciences labs, special education space, and 27 classrooms. Their new building will allow CSOTD to better serve its current 425 students and allow for growth of up to 700 students.
Read more about IFF's Charter School Credit Enhancement Program...
Indiana Schools of Excellence, South Bend, Indiana
Indiana Schools of Excellence (ISE) in South Bend, Indiana is one of IFF’s borrowers that benefited from the $9.5 million investment from JPMorgan Chase through the New Markets Tax Credit (NMTC) program. ISE came to IFF wanting to acquire the facility it was leasing, a former furniture store in a very low-income census tract. Through IFF’s seven-year, interest-only loan of $1.5 million and a subordinate loan from the leaseholder, the Charter School Development Corporation, ISE was able to exercise its option to purchase the facility several years early, providing savings on future lease payments and lowering its total facility debt service payments to less than 10 percent of its current budget.
The site is home to the Xavier School of Excellence which serves 400 students, grades K-7. The Xavier School of Excellence offers a blend of basic education, technology integration, foreign language offerings, and community involvement. Xavier School of Excellence was founded by a group of concerned parents and community members to provide a high quality, yet affordable school to meet the educational needs of South Bend families.
- Anderson Preparatory Academy
- Bloomington Project School
- Brookside Apartments, LP
- Carpe Diem Indiana
- Charter Schools Development Corporation
- Drexel Foundation for Educational Excellence, Inc/Thea Bowman Leadership Academy
- Duneland Charter School, Inc.
- East Chicago Lighthouse Facility
- ECHO Community Health Care
- Galileo Charter School
- Indiana Schools of Excellence, Inc.
- International School of Columbus
- Irvington Community School
- Lampion Center
- Madison County Community Health Center
- New Parkwoods II, LP
- New Parkwoods IV, LP
- Northtown Village, LP
- TCB Sherman Forest, LLC
View all borrowers
To learn more about our work in Indiana or to discuss our lending services, please call Steve Bricker at 866 629 0060 or via email.
For information about real estate consulting services or our work with schools, please contact Jeff Bennett at 317 454 8530 or via email.
Please click here to download a print-ready overview of IFF’s Indiana Loan Program.