|
Commercial Rehabilitation Investment Program |
The Commercial Rehabilitation Investment Program (CRIP) provides funding to commercial property owners who want to improve their storefronts or investors who would like to utilize vacant space for a new business. Funds are awarded as a forgivable loan for businesses that remain at the renovated location for a predetermined amount of time. To demonstrate their commitment, owners are required to match the loan funds dollar for dollar. The program is meant to provide an incentive for area property owners to remain, and for business investors to improve the town's traditional business centers in Thompsonville.
The CRIP offers 3 levels of loan funding:
|
|
NAME |
LOAN AMOUNT |
PRIVATE MATCH |
|
1. |
Micro Loan |
$1,000 |
$1,000 |
|
2. |
Small Loan |
$5,000 |
$5,000 |
|
3. |
Large Loan |
$25,000 |
$25,000 |
(Funding levels determine restrictions and requirements placed on specific projects.)
For more information please refer to the CRIP Guidelines and Application or contact the Office of Community Development at 860-253-6390.
|