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- Good Neighbors Revolving Loan Fund
Good Neighbors Revolving Loan Fund
- This committee meets as needed.
- Stephanie Bennett - Business Owner
- Tom Quigg - Member at Large
- Open -Financial Institution
- Andy Bickar - Business Owner
- Debi Pieraccini-Finance Chair
Establishment of the Committee
The Good Neighbors Revolving Loan Fund Committee is a seven-member committee appointed by the Mayor. The committee was established for the purpose of making loans to private property and business owners to make exterior improvements to commercial buildings and property in the downtown, south side, west side, and East Aberdeen districts.
The loan program is a facade improvement program, loan amounts are up to $5,000 per lot, with a maximum of $10,000. All loans have a three-year payback and are at 2%.
About Our Good Neighbors Fund
Upon approval by the Good Neighbor's Revolving Loan Fund Committee, loan funds can be used for nearly any improvements that will improve the exterior of a building or lot. Allowed improvements include:
- Exterior painting
- Masonry cleaning or repair
- Purchase of awnings
- Repair/replacement of original building ornamentation
- Repair/replacement of signs
- Sidewalk repair
Apply for a Good Neighbor Revolving Loan
The process is relatively quick and simple. Steps include:
- Your business or property must fall within the targeted area.
- Proof of creditworthiness. A $25 fee is required to cover the cost of credit review.
- Good Neighbor Committee Evaluation. Once approved, the funds are disbursed after the loan closing paperwork is completed and the invoice(s) from the contractor is received.
This program is funded through the urban development action grant fund.
More information and paperwork regarding the loan program can be obtained from the Community Development Department on the second floor of City Hall or by calling 360-537-3238 or email at email@example.com.