Quincy Central Business District Commercial Revolving Loan Fund
The Quincy Central Business District Commercial Revolving Loan Fund (CBD-RLF) was established to stimulate the preservation and revitalization of the city's historic downtown by providing financial assistance to any current of prospective purchaser of commercial or commercial/residential properties for business purposes in the core area bound by the Riverfront, Twelfth Street, Oak Street and Payson Avenue.
The program objective is to assist, but not replace conventional financing. The program will provide low-interest loans up to a maximum of $50,000, or 50% of the project cost, whichever is less, at a 3% interest rate for eligible projects to be used in combination with bank financing and owner equity. The owner must provide a minimum of 20% equity.
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