MLF provides loans for the acquisition, construction, rehabilitation, predevelopment expenses, and permanent financing of affordable housing. Loans have ranged from $25,000 to $3.5 million, with an average term of 3.6 years. Some examples of Mercy Loan Funding include:
- Lines of credit to affordable homeownership programs, used to purchase and rehabilitate single-family homes for sale
- Predevelopment loans to assist with up-front costs associated with the acquisition and rehabilitation of an historic single-room occupancy apartment building for people who are single, disabled or living with HIV/AIDS.
- A gap loan to a residents' cooperative to purchase a 150-space mobile home park for seniors
- Bridge loans to 17 tax-credit projects in six states which have provided 600 units of affordable housing for low and very low-income families
- Loans that helped four tenants' associations purchase and convert their rental properties into cooperatives and condominiums.Loans for the acquisition, renovation and construction of four historic properties in an area of profound need, resulting in 158 new units of housing
- A construction loan to a non-profit organization that builds single-family homes. The homes will be sold to families earning less than 50% of area median income