SigEp National Housing serves as a lender to AVCs throughout the country to support projects big and small. There are two major vehicles for those loans: SENH’s lending program and the Chapter Investment Fund.
In today’s real estate market, some AVCs face significant challenges in securing a loan for a fraternity house. SigEp National Housing provides loans at competitive market rates. Discounted interest rate loans are available to AVCs wishing to invest in life safety improvements, such as installing a sprinkler system. AVCs apply for loans by completing the SENH loan application and accompanying pro forma. The Managing Director reviews applications and makes a recommendation to the SENH Board of Directors.
Please reach out to SENH Managing Director Ben Hutto with any questions about the SENH lending program.
Chapter Investment Fund
The Chapter Investment Fund (“CIF”) was established in 1959 to build the capital necessary to support the future housing needs of SigEp chapters. The CIF is used for long-term capital improvements and maintenance. Each undergraduate chapter has a CIF account and is required, in accordance with the Grand Chapter Bylaws, to deposit into the chapter’s fund annually, an amount equal to $20 per member.
Each chapter, through its AVC, receives a quarterly report of earnings and the current value of its deposits based on the market. Chapters may request funds through the CIF Withdrawal Request. SigEp National Housing recommends developing a repayment plan to replenish the Chapter Investment Fund after a withdrawal. Standard repayment plans consist of either monthly or quarterly payments, however, we can accommodate different arrangements in order to fit the AVC budget, if necessary.