Loans

SeaChange—through its affiliated funds—makes flexible, impact-first loans to support the real estate, working capital, and expansion capital needs of nonprofits working in Greater New York City. Our funds provide a level of flexibility and risk tolerance unavailable from conventional lenders. We seek to support groups whose financing needs cannot be met by traditional sources of financing including commercial banks and CDFIs.

We target investments from $25,000 to $2,000,000 (investments outside this range are considered on an exceptional basis) in the form of secured and unsecured loans, loan guarantees, and equity-like securities. The economic terms are determined on a case-by-case basis though interest rates generally range between 4-6% over maturities of 2-5 years. We regularly co-invest with like-minded lenders, particularly in situations that are too large for us to do alone. SeaChange seeks to be in a constructive ongoing dialogue with our nonprofit partners. We generally take a non-voting observer seat on the finance committee of each borrower during the life of our investment.

For borrowers interested in The New York Shelter Acquisition and Predevelopment Fund, including the application process, more information is available here.

For A.R.T./NY members interested in NYC Bridge Funding for the Arts loans, more information is available here.