CityWide’s Revolving Loan Funds provide gap financing for fixed assets and permanent working capital to business located in the City of Dayton.

Eligible Loan Uses

• Real estate acquisition
• New construction*
• Renovation of existing buildings*
• New and/or used machinery and equipment acquisition
• Permanent working capital

The Benefits

• Low down payment
• Gap financing

Typical Gap Financing Loans Structure

• 60% bank or other private lender
• 30% CityWide Direct Loan
• 10% owner’s equity injection

Maximum Loan Amount

• $200,000
• $25,000 of CityWide loan dollars per job created or retained

Term

• 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

• $500 application fee
• 1.5% 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