BiF looks for real estate projects that catalyze long-term economic growth. We are not looking for single-event construction (standalone storefronts, for example), but more complex projects that inherently carry their own economic momentum.
Based on terms set by USCIS, funded projects must generate a minimum of 10 permanent jobs for every $500,000 invested. For example, a BiF investment of $10 million would have to generate 200 full-time jobs.
- Mixed-use real estate developments
- Biomedical and healthcare
- Research and education
- Advanced manufacturing
Initially, BiF will concentrate on projects in the cities of Lexington and Louisville, as well as Northern Kentucky and Southern Indiana. However, we will consider attractive projects anywhere within the state of Kentucky and in contiguous counties in Southern Indiana.
- Every project must be anticipated to meet or exceed the direct and indirect job creation requirement of 10 jobs per $500,000 investment
- BiF loans should be secured by real estate, other physical improvements, or personal/corporate guarantees
- Projects should also have some local, state and/or Federal funding
- Large-scale projects are preferred
- Projects must have a clear exit strategy for a fixed-year, interest-only loan
- We can usually finance between 25-30% of total project costs
Why choose BiF
- Lower cost – BiF can often offer more money for less cost than traditional lenders
- Flexibility – We can finance projects that are otherwise difficult to fund and our capital can fit anywhere in the capital structure
- Objectivity – we maintain appropriate distance in our borrower relationships. BiF maintains no ownership of its projects, allowing for objective analysis and underwriting
- Experienced leadership – the BiF team brings extensive experience in lending, private equity, accounting, law and economic development
- Locally networked – we live, work and invest here. We know the area, the economy, the local resources and the business and government leaders
- Proven track record – working with Cleveland International Fund (CiF) ensures effective fundraising, EB-5 compliant loan structuring, and an efficient working relationship with our borrowers