top of page

What We Do



Forward Community Investments' Emerging Developer Loan Program (EDLP) intends to reduce racial and socioeconomic disparities by growing the financial capacity of emerging developers - people of color and women - to develop real estate projects and transform neighborhoods across Wisconsin.

Eligible Participants

Real estate developers considered eligible include:

  • People of color and women who don’t have access to loans from traditional financial institutions

  • Graduates of the Associates in Commercial Real Estate (ACRE) program and/or the WHEDA Development Training program

  • New developers who have engaged in educational training, or worked in allied industries, to expand their knowledge and skills in real estate development

Program Benefits

  • Allows for-profit developers who would not normally qualify for FCI loans to apply for funding

  • Allows eligible projects outside the parameters of FCI’s traditional loan products

  • Technical assistance available from FCI's experienced lending team

  • Connection to a network of len,ders and technical assistance providers committed to supporting emerging developers of color

Eligible Projects

Projects must be Wisconsin-based and meet one or more of the following criteria:

  • Stimulate and encourage community stabilization/revitalization

  • Increase the supply and improve the condition of affordable housing

  • Support the growth needs of new and existing community-based enterprises that promote economic stability or improve the supply or quality of job opportunities

  • Assist social service agencies that provide programs for low-income or under-served populations

  • Promote wealth creation, including market-rate projects in neighborhoods traditionally not served by real estate developers

Program Features

  • Pre-development, construction,, and bridge loans

  • Pre-development loans up to $200,000

  • Construction/bridge loans up to $600,000

  • Loan terms from six to thirty-six months, depending on the use of loan proceeds

  • In the case of for-profit developers, final loan repayment is expected to come from permanent financing or a conventional loan offered by a standard financial institution

  • Low fixed interest rates: dependent on the project risk, type of loan, and the experience of the developer

  • Flexible collateral

  • The ability to bridge many types of receivables (tax credits, grants, developer fees)

  • Loan-to-value ratios as high as, 90% and amortizations up to 30 years

  • No prepayment penalties

  • For-profit developers will be required to provide a personal guaranty

  • In some cases, a borrower may be asked to work with a seasoned developer or professional services consultant who can offer expertise, and advice throughout the different phases of project development


Eligible Expenses

Pre-development Loans

  • Earnest money and/or purchase deposit

  • Building inspection and environmental reviews

  • Appraisal and survey

  • Title and recording fees

  • Site preparation, demolition and stabilization

  • Interim maintenance and project overhead

  • Property taxes and insurance

  • Construction bonds and/or letters of credit

  • Market and feasibility studies

  • Professional fees

Construction/Bridge Loans

  • Land and/or building acquisition

  • Construction-related expenses

  • Developer and contractor fees

  • Site preparation and demolition

  • Financing fees (title and recording)

  • Professional fees

  • Carrying costs

  • Project reserves

  • Leasehold improvements and equipment purchase

To talk to someone about our Emerging Developer Program contact:

bottom of page