Apply for a Loan

OpenDoor provides short-term loans to non-profit and for-profit social enterprises that serve low-income individuals and families residing in the Washington, DC metro area including Maryland and Northern Virginia. The loans provided can be used for a range of business uses and project types including affordable housing development, community facilities, and business restricted working capital. For more information, please contact us at (301) 588-5533 and ask for our Director of Lending.

General Loan Guidelines

Amount:   $25,000 – 1.0 million via loan syndication or participation  

Term:   Generally up to a maximum of five years.

Interest Rate:   Varies depending on the loan type and current prevailing market rates.

Collateral/Security Required: Flexible but secure repayment source must be provided.

Fees:   (non-refundable):

    • Credit Report (if applicable) – At cost. Borrower must pay.
    • Loan Origination Fee – 1.5% of total loan amount due at loan commitment
    • Appraisal (if applicable) – At cost. Borrower must pay.
    • Environmental Assessment (if applicable) – At cost. Borrower must pay.
    • Legal – No fees to Borrower if standard loan closing documents are used. If standard documents are not used, Borrower will be charged Lenders’ legal counsel’s prevailing hourly rate.


Eligible Borrowers:   Existing 501(c)(3) non-profit organizations located in the DC metro area as defined by the Metropolitan Washington Council of Governments, who have been in existence for a minimum of (3) years, and have demonstrated track record success in community or economic development. OpenDoor does not make loans to individuals or government agencies. 

Loan Types:  

    • Property Acquisition (senior lien position on collateral pledge required)
    • Construction Financing (12-18 months) Mini-Permanent Financing (12-60 months with a balloon payment)
    • Restricted Working Capital Line of Credit tied to contract receivables

Possible Uses of Funds

  • Earnest Money Deposit
  • Purchase Deposit
  • Acquisition
  • Architect/Engineer Services
  • Construction financing
  • Environmental Consultants
  • Finance & Development Consultants
  • Tax Credit Consultants
  • Finance Related Fees (e.g. tax credit reservation fees; loan origination fees)
  • Market Studies
  • Appraisals
  • Legal Costs
  • Project related sponsor overhead
  • Similar items approved by Loan Committee

Loan Committee meets monthly and has authority to approve loans on behalf of OpenDoor.  Credit memos are circulated one week in advance. 


To learn about our success stories, click here.

Click here for the OpenDoor Housing Loan Application.

*Lending needs outside these program parameters can often be met through consortia arrangements with other lending sources. Please discuss all lending needs with program staff, even if they exceed the loan limits described.


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