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Revolving Loan Programs
About Revolving Loan Fund (RLF) Programs
The City’s Revolving Loan Fund Program was established in 1983. It was initially capitalized with a $300,000 Community Development Block Grant (CDBG). Because the fund was initially capitalized with CDBG funds, the City typically requires that loans are used to create economic development and improved housing opportunities for low and moderate income people. Today, the City’s program has a portfolio of approximately 45 loans totaling $1.7 million.

The City’s RLF can be used to support the following:
  • Economic development projects (i.e., real estate development, tenant fit-up, equipment purchases, etc.)
  • Housing projects / renovations for units occupied by low and moderate income households
  • Renovation to social service agencies and day cares which primarily serve low and moderate income households

Loan Requests
Loans typically range from $1,500 to $250,000, with terms generally ranging from five to 15 years, with interest rates ranging from three to ten percent. Terms and conditions are negotiated by the City for each individual loan.

Loan requests are reviewed by the city’s Community Development Advisory Committee (CDAC), which typically meets once per month. Sample projects funded with the City's Revolving Loan Program include:
  • $1,500 loan to a private homeowner for replacement of a hot water heater
  • $30,000 loan to a local daycare for renovations
  • $125,000 loan to a condominium association for roof repairs
  • $175,000 “bridge loan” to a private developer for a downtown development project
  • $200,000 loan to a mobile home park cooperative to replace water and sewer mains

Capital Regional Development Council Revolving Loan Programs
The Capital Regional Development Council (CRDC) is private, nonprofit regional development corporation which provides a variety of economic development services in central New Hampshire including various revolving loan fund programs. Specific loan funds include:
  • Opportunity Corridor Loan Fund: Dedicated to projects primarily adjacent to the I-93 corridor in Concord
  • Brownfields Revolving Loan Fund: Loans intended to facilitate environmental cleanup activities, such as asbestos abatement, lead paint abatement, removal of contaminated soils, etc.

Documents

Contact Us
Matt Walsh 
Director of Redevelopment, Downtown Services, & Special Projects 
Email
41 Green St.
Concord, NH 03301

Ph: 603-225-8570
Fx: 603-225-8558

Hours:
Monday - Friday
8 a.m. - 5 p.m.