Build safe, affordable, hopeful housing in Simcoe County with Redwood Community Impact Loans.
Build safe, affordable, hopeful housing in Simcoe County with Redwood Community Impact Loans.
impact loans
An Impact Loan (promissory note) to Redwood Park Communities is an opportunity to invest in safe, affordable, hopeful housing projects right here in Simcoe County.
Our housing communities are financed through a combination of donations, community housing bonds, government grants, and capital financing, including traditional bank financing, credit unions, and other impact loans and mortgages from churches and individuals.
We offer competitive rates on loans of $50,000 or more. This financing gives us the flexibility to respond nimbly when opportunities come up to purchase, renovate, or build new affordable housing to meet the needs in our community.
About Redwood Park Communities
Redwood Park Communities is a Simcoe County-based charity founded in 2009 to create safe, affordable, hopeful housing where people thrive in community. Redwood is moving beyond social service to create social change, strengthening and transforming communities by building homes where people can connect, create, and contribute.
2022 Impact:
People Housed
Units under construction
People employed
How It Works
Terms
To help us manage promissory note expiry terms efficiently, all notes expire at the closest following semi-annual dates: June 30 or December 31. For example, a 2-year closed-term note dated February 20, 2024 would expire on June 30, 2026.
Upon expiry, there are three options for note holders:
- Balances outstanding on the note are paid;
- The note’s outstanding balance is applied to another closed-term note with interest payable at the published and prevailing interest rates at that time; or,
- The note’s outstanding balance is applied to an open-term note, payable on demand with at least a 30-day notice, with interest payable at the published and prevailing interest rate for open-term notes at that time.
Interest Payments
A lender has the option of receiving their earned interest (direct deposit) on a semi-annual or annual basis, or the lender can choose to receive a donation receipt in lieu of interest payments.
Disclaimer
Impact Loans support and grow Redwood’s capacity to build safe, affordable, hopeful housing where people thrive in supportive community. Lenders should be aware that Impact Loans are promissory notes and not secured by specific Redwood property or assets.
Interest Rates
At this time, Redwood is accepting loans of $50,000 or more. The rates are:
2 year – 4.00%
3 year – 4.25%
4 year – 4.50%
5 year – 4.75%
We reserve the right to change the interest rates paid for new loans. Interest rates for closed-term loans are guaranteed for the term of the note.
Get Started Today
Please contact Pieter Kiezebrink at invest@redwoodparkcommunities.com to learn more about supporting the creation of safe, affordable, hopeful housing with Redwood through an Impact Loan.