CityWide

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CityWide’s First Floor Fund program is intended to stimulate economic growth and support for residential and commercial development in the Greater Downtown Dayton area.  To be considered for a loan under this program, applicants must be able to contribute meaningful owners’ equity in their projects, present a viable business plan and demonstrate a successful track record.

 

Eligibility

  • Businesses located in Downtown Dayton’s Central Business District and Webster Station

 

Eligible Loan Uses

  • Tenant improvements*
  • New and/or used machinery and equipment acquisition
  • Inventory

 

The Benefits

  • Supplements conventional bank financing
  • Provides flexible terms and conditions not available in conventional sources

 

Maximum Loan Amount

  • $200,000

 

Term

  • Six Months Interest Only
  • Fixed asset: Useful life of asset up to 10 years
  • Working capital: Up to 3 years

 

Rate

  • Rates are determined by the assessed risk

 

Fees

  • $250 application fee
  • 5% origination fee
  • 1% deposit due upon acceptance of loan commitment to cover out-of-pocket closing costs – i.e. legal, title, recording, etc.

 

*Davis-Bacon prevailing wage requirements may apply

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