Private Loan Program

Desi Affordable and Supportive Housing

South Asian immigrants are among the fastest growing population and one of the most overlooked groups of elderly in New York City. To support this underserved population, India Home is seeking financing for preconstruction costs to build a supportive service center and senior housing facility in Jamaica, NY. This loan will be repaid through a permanent construction loan.
Funding Goal: $750,000
79%

Investment Summary

Who Can Participate

Only Accredited Investors can lend/invest. Some common ways to qualify:

How to Invest

This loan is being offered under LENDonate’s BYON Private Loan Program. See section under Other Important Information for further explanation.

If you are interested in investing in this loan, please fill out this brief intake form and a LENDonate representative will reach out with next steps.

If you have questions about the India Home project, please contact India Home directly.

 

Vasundhara Kalasapudi M.D

vasundhara@indiahome.org

516-859-5125

About LENDonate BYON Program

Unlike investments on our marketplace, Bring Your Own Network (BYON) projects bring supporters who are already familiar with India Home and therefore are not reliant on LENDonate’s credit analysis services. LENDonate is available to answer financial and investment questions, future repayment services, and any desire to convert from investment to donations in the future. The term and interest rate are established between the investor and India Home independent of LENDonate.

Who They Are: India Home

India Home is a non-profit organization dedicated to addressing the needs of and empowering the South Asian and Indo-Caribbean senior immigrant community in New York City through culturally competent services. At India Home’s centers, their seniors find community and resources through a diverse range of programs and activities. Their mission is to improve the quality of life of older adults and help them to age with dignity by providing social, physiological, recreational, and spiritual services in a culturally sensitive manner.

India Home Bajans and morning exercises
A group of seniors starting their day right by doing Bhajans and getting in their morning exercises at Ozone park. Active seniors are the best.
India Home India Independence Day Celebration 2
India Home hosted a special 75th Indian Independence Day celebration at the Hindu Center in Flushing, Queens.
India Home Nature Walk
Seniors enjoyed the nice weather and outdoor scenery on a nature hike with Mount Everest climbers Tashi & Nungshi Malik.

Capital Project: Desi Affordable & Supportive Housing

India Home purchased a  multi-family house with R7 and DJ zoning with the help of a $1 Million LENDonate loan. The property is recently appraised for $2.5 Million. India Home’s proposed Desi Affordable and Supportive Housing (DASH) Capital Project will construct a new 6-story building on this existing site. The building will comply with all accessibility requirements of the Americans with Disabilities Act and local building codes and Green building codes. They received a $1.5M grant from Congressmen and US Senators. They plan to raise $1M for pre-development funds which will be repaid with a permanent construction loan.

The new development will be a 6-story, 40-unit building and 19,000 sq ft facility located at 87-86 153rd St Jamaica, NY.

 

The building will contain:

Jamaica, Queens Property

India Home_render

For additional details about the property, please take a look at the realtor.com listing.

Use of Proceeds & Repayment

The loan proceeds will be used for predevelopment costs including feasibility studies, architectural and engineering fees, legal costs, permitting, site surveys, utility assessments, and financing charges.

 

The loan will be repaid  through a permanent construction loan.

Why Support this Program

A pre-development loan will help India Home cover the initial costs associated with planning and preparing a supportive housing project before construction begins.

Impact of Pre-development Loans

Feasibility and Planning: These loans allow organizations to conduct feasibility studies, site assessments, and architectural designs. This stage is crucial for ensuring that the project is viable and meets the needs of the South Asian Older adults.

 

Securing Permanent Financing: Pre-development loans help bridge the gap until long-term funding is secured. They cover early-stage costs so that the project can move forward and eventually attract permanent financing from sources like low-income housing tax credits or government grants.

 

Speeding Up the Process: By providing the necessary funds upfront, predevelopment loans can accelerate the project timeline, allowing housing to be developed more quickly to address urgent needs.

What is Supportive Housing?

Supportive housing combines affordable housing with supportive services to help south asian older adults who face challenges such as homelessness, disability, or other barriers to stability.

“THEY HAVE GIVEN ALL THEIR LIFE TO THEIR CHILDREN AND THE COMMUNITY…IT’S TIME TO GIVE BACK.”

Dr. Vasundhara Kalasapudi, Executive Director

Other Important Information

Fee Disclosure
A $99 fee will be deducted from the initial fund transfer and each year thereafter, as long as there is an outstanding loan balance.
Loan Forgiveness
At any time during the loan repayment period, an Investor may convert their outstanding loan balance (in any amount) to a donation. LENDonate provides this service free of charge to both Investor and the nonprofit Borrower.
About LENDonate's BYON Program

Unlike investments on our marketplace, Bring Your Own Network (BYON) projects bring supporters who are already familiar with India Home and therefore are not reliant on LENDonate’s credit analysis services. LENDonate is available to answer financial and investment questions, future repayment services, and any desire to convert from investment to donations in the future. The term and interest rate are established between the investor and India Home independent of LENDonate.

 

 

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