Through four types of loans, White Horse Capital, Inc. provides the opportunity for Pi Kappa Alpha chapters and house corporations to request funds for the purposes of purchasing, constructing, renovating and/or refinancing chapter houses, and/or purchasing heavy equipment and/or furniture.
Real Estate Loans
Real Estate Loans are utilized for major structural renovations and purchasing/building of a chapter house. The maximum amounts that may be requested are $400,000 (secured by first mortgage) or $250,000 (secured by second mortgage). However, all efforts must be made to obtain maximum local financing. In some cases, the Housing Commission may require personal guarantees on all or a portion of a Real Estate Loan. The maximum amortization term for Real Estate Loans is twenty (20) years.
Unsecured loans are primarily available for chapters and house corporations that wish to upgrade/replace furnishings and heavy equipment. The minimum and maximum amounts that may be requested for this loan range from $4,500 to $25,000. Unsecured Loans must be personally guaranteed by at least three alumnus members. The maximum repayment period for an Unsecured Loan is five (5) years.
Capital Campaign Loans
Capital Campaign Loansare offered on a short-term basis for qualifying house corporations, for the purpose of hiring an endorsed professional capital campaign company to raise money for a major renovation and/or the acquisition of new property. For a chapter that is a prime candidate for a capital campaign, hiring a professional fundraiser can mean the difference between a $250,000 campaign or a $1.5 million campaign. Your corporation and chapter must meet all of the below requirements to qualify for a Capital Campaign Loan:
- An organized house corporation with committed alumni leadership;
- A chapter that has about 1,000 or more mailable/contactable alumni;
- Sent at least two (2) alumni newsletters annually in the last three (3) years;
- Held at least two (2) alumni events annually in the last three (3) years;
- Alumni that exude a considerable amount of pride and support for the university; and,
- A chapter with a good image, with no major negative publicity within the last three years.
Life Safety Loans
The Life Safety Loan is available to help provide undergraduates with the safest living environment possible. The loan is made feasible by funding the cost of specific life safety improvements, at a rate much lower than the Fraternity’s normal lending rate. The scope of the proposed work and materials could include, but is not limited to:
- "Fire Sprinkler" or fire suppression system that is properly permitted and approved by the relevant local authorities.
- "Hardwire" (electrical driven) fire, smoke, and/or carbon monoxide alert systems. Battery driven systems will be considered if a hardwire system is not practical and/or affordable.
- Stand-alone fire equipment such as fire extinguishers
- Exit and emergency backup lighting
- Equipment related to security
- Permanently affixed signage that describes life-safety related instruction