NYCEEC Current rates & terms

As of July 20, 2017

EQUIPMENT LOAN
Sector Building type Initial Loan Balance($) Term Interest rate Closing fee
Market rate Multifamily 50k-250k <5 years
5-10 years
6.0%
6.5%
$1,500
$1,500
250k-1MM <5 years
5-10 years
6.0%
6.5%
0.50%
0.50%
>1MM <5 years
5-10 years
6.0%
6.5%
1.00%
1.00%
Commercial &
Industrial
<50k
>50k
<3 years
<5 years
5-10 years
negotiated
6.0%-7.0%
6.5%-7.5%
negotiated
0.50-1.50%
0.50-1.50%
Affordable1 Multifamily 50k-250k <5 years
5-10 years
4.0%
4.5%
$1,500
$1,500
250k-1mm <5 years
5-10 years
4.0%
4.5%
0.50%
0.50%
>1mm <5 years
5-10 years
4.0%
4.5%
0.75%
0.75%
ESA/PPA LOAN (POST-CONSTRUCTION)2
Sector Building type Initial Loan Balance($) Term Interest rate Closing fee
Market rate Multifamily >150k 7-12 years 6.5-7.5% 1.00-2.00%
commercial & industrial >150k 7-12 years 7.0-8.0% 1.00-2.00%
affordable Multifamily >150k 7-12 years 4.5-5.5% 0.50-1.00%
GREEN CONSTRUCTION LOAN
Sector Building type Initial Loan Balance($) Term Interest rate Closing fee
Market rate Multifamily >150k 1-3 years 6.0-7.0% 1.00-2.00%
affordable Multifamily >150k 1-3 years 6.0-7.0% 1.00-2.00%
    
        

(1) "Affordable Multifamily" is defined as condos, co-ops and rental buildings with demonstrable benefit to affordable tenants. Higher rates may apply in cases with no demonstrable benefit to affordable tenants

(2) Associated construction loans will be priced at a 0.5%-1% premium to the applicable interest rate

* For mixed-use multifamily and commercial buildings, the rates for primary/majority use will typically be used, but assessment will be on a case-by-case basis

** Construction monitoring and other lender expenses may be billed back to borrower for large transactions

‡ All interest rates shown in the NYCEEC Pricing Matrix are effective as of July 1, 2017 and are subject to change. A borrower's actual rate may differ depending on the approved loan amount, loan term, the borrower's credit history and creditworthiness, and other factors.
All loans are subject to credit approval. Additional fees and costs may apply.