Neighborhood Business Access Loans
Our goal is to prioritize small business lending to support job creation in low-to-moderate income households and the revitalization of neighborhood commercial districts. We offer these loans through the U.S. Department of Housing and Urban Development’s (HUD) Community Development Block Grant (CDBG) program.
New and existing businesses may apply for loans from $10,000 to $100,000. no interest or payments due for the first year.
Loan terms are flexible if you can show potential for job creation for an underrepresented service.
New or recently formed businesses may apply for loans between $3,000 and $10,000 if they:
- have no more than three employees, and
don't have funding from a traditional lender.
Loans can be utilized for equipment purchases for more advanced small businesses.
The U.S. Department of Housing and Urban Development's Community Development Block Grant (CDBG) Program provides communities with resources to address a wide range of community development needs.
The program works to:
- ensure decent affordable housing
- provide services to the most vulnerable in our communities, and
- to create jobs through the expansion and retention of businesses.
Businesses receiving funds must:
- create new, permanent jobs for low-to-moderate income households, or
- provide goods or services to the residents of a low-to-moderate income community.
Loans may be used to assist businesses with rehabbing existing buildings, new construction, equipment, startup costs, expansion, and working capital.