Downtown Loans

The Downtown Revitalization Loan Program is a flexible financing program designed to encourage investments within the Downtown Urban Renewal District that contribute to the economic vibrancy and density goals for downtown. The program is also designed to be responsive to unique redevelopment opportunities, specific downtown redevelopment challenges, and specific individual project financing needs. Program funds may be used to aid in:

Accessibility improvements
Building rehabilitation or renovation
Facade improvements

Historic preservation
Pedestrian cover
Tenant improvements

Other Related Information

Fees

$50 non-refundable application fee
1% loan fee

Interest Rate

The interest rate is fixed, typically below market, for the term of the loan.

Loan Amount

$10,000 - $500,000: dependent upon availability of funds.
Applications for larger or smaller loan amounts may be considered on a case by case basis.

Loan Term

Repayment terms are structured to meet individual project needs.

Matching Funds

Project financing between 25-50% of eligible project costs.

Related Closing Costs Eligibility

Located within the Downtown Urban Renewal District (see map below.)
Property owners
Tenants

Collateral

Acceptable collateral generally includes:

Business assets
Real property
Personal guarantees