How much funding does Commercial Rehabilitation Loan Program provide?

Commercial Rehabilitation Loan Program provides $5,000 - $35,000 in funding.

When is the deadline for Commercial Rehabilitation Loan Program?

Applications are accepted on a rolling basis.

Geography: Located within corporate limits of City of Franklin.

Commercial Rehabilitation Loan Program accepts applications on a rolling basis.

Funding Amount

$5,000 - $35,000

Deadline

Rolling (quarterly review)

Grant Type

Foundation

Source: the cycle recorded on this listing. Confirm dates with the funder.

Check your organization against each line. Taken from the listing; confirm with the funder's guidelines.

Improvements limited to restoration, renovation, rehabilitation, and preservation of commercial buildings and structures
No refinancing of earlier low-interest loans
No current delinquent payments
No delinquent payments for one year prior to application

Revolving loan fund for restoration, renovation, rehabilitation, and preservation of commercial buildings within the City of Franklin.

Administrator: City of Franklin

Geographic Scope: City of Franklin, Virginia (within corporate limits)

Interest Rate: Fixed 1% above prime per annum

Loan Term: Up to 7 years maximum

Eligibility Requirements:

Located within corporate limits of City of Franklin
Improvements limited to restoration, renovation, rehabilitation, and preservation of commercial buildings and structures
No refinancing of earlier low-interest loans
No current delinquent payments
No delinquent payments for one year prior to application
Good standing with City of Franklin

What They Fund:

Physical improvements to commercial facilities
Up to 10% of loan amount may be applied to soft costs for hiring approved architects, architectural designers, interior designers, or contractors to prepare façade improvement plans and specifications
Building restoration and renovation projects only (no equipment or working capital)

Review Committee:

Contact Information:

Application Format: Formal application available in program guidelines
Submission: Submit to City of Franklin Community Development Department
Required Documentation:
- Completed Commercial Loan Program application
- Financial documentation
- Project plans and specifications
- Property information and collateral details
- Design guidelines compliance documentation
Review Committee Evaluation: Applicants reviewed based on:
- Financial feasibility
- Collateral requirements
- Design guidelines compliance
Approval Timeline: Committee review and approval process
Repayment: Equal monthly installments commencing first of month after project completion