Areas Served: City of Great Falls
The Great Falls Development Authority is now taking applications for the new Great Falls Downtown Loan Fund (DT RLF) to lend to developers as well as new and expanding businesses in downtown Great Falls, Montana.
The funds can be used as gap financing for commercial and multi-family residential real estate renovations, improvements and new construction.
The Development Authority is looking for projects that will fill vacant space, restore historic properties and create new high quality buildings downtown.
Applicants can apply for a maximum loan of 20% of the total project or $100,000. Loans may be amortized up to 20 years with a balloon repayment within 5 years.
The intent of the Fund is to fill financing gaps between what banks can lend for a project and available equity.
Loans from the Fund will be subordinate to bank financing.
Contact InformationGreat Falls Montana Development Authority
Address: 300 Central Ave, Suite 406
City: Great Falls
State: Montana
Website:
http://www.gfdevelopment.org/pages2/p40/downtown_revolving_loan_fund.php
Leave a Reply