The goal of the First Floor Fund is to activate storefronts in vacant or underutilized spaces along neighborhood commercial corridors and the Greater Downtown area.


What is the maximum amount I can borrow for the primary loan?

  • The maximum is $300,000 or no greater than 50% of the total project costs, whichever is less. Recipients will be required to give their total project costs as part of the application process.


What is the least amount I can borrow for the primary loan?

  • The minimum is $50,000.


Is there a forgivable loan?

  • Yes. Applicants may qualify for an additional forgivable loan if the primary loan is approved. Forgivable loans provided under the First Floor Fund program will have a maximum of $50,000 or 20% of the total project costs, whichever is less. Certain requirements apply. If you are approved for a primary loan, you will be notified if you qualify for a forgivable loan.


If I need less than $50,000 or I need to renovate the space my business currently occupies, what should I do?

  • Let’s talk! See below for contact information.


What are eligible uses of funds? *

  • New and/or used machinery and equipment
  • Building renovations
  • Tenant improvements
  • Furniture and fixture purchases and installation
  • Permanent working capital

*All such eligible uses must further the City’s goal of storefront activation in vacant or underutilized spaces.


What are the terms?

  • Terms will not exceed 7 years


What are the interest rates?

  • The target interest rate range is 2% to 4% with the final rate based on the overall strength of the Recipient’s application and repayment ability as determined during the underwriting process.
  • The initial 6 months of Recipient’s loan will require interest-only payments. These payments must be made on time for the loan to be considered in good standing.


What is the target area of this program?

  • Neighborhood business corridors and the Greater Downtown Area in the City of Dayton


Who are the target recipients of this funding?

  • Restaurants, bars, retailers, coffee shops, and personal care services (e.g. salons, barbers, fitness)


Factors that will be considered in the underwriting process include, but are not limited to:

  • Recipient does not have a corporate or personal bankruptcy in the last 5 years
  • Character, reputation, and credit history (Recipient, and, if applicable, guarantor, has personal credit bureau score of at least 625 without extenuating circumstances)
  • Experience and depth of management
  • Strength of the business and the business plan
  • Past earnings, projected cash flows, and future projections
  • Cash flow projections provided by the Recipient as part of Recipient’s overall business plan
  • Potential long-term success
  • Nature and value of collateral (although, inadequate collateral will not be the sole reason for denial of Recipient’s application)


Is there an application fee?

Yes, there is a $250 application fee and must be paid for with a check. Please make checks payable to: CityWide Development Corporation

Mailing address:

8 N Main St
Dayton, OH 45402


How do I submit my application?

Completed application packets can be submitted online or mailed to our office. See below for the address.

A completed application packet will include the following:

  1. A filled-out application
  2. Requested documents (a full list is on page 7 of the application)
  3. A filled-out personal financial statement
  4. Application fee

Incomplete applications will not be considered. If you do not have all the required documents, please do not submit your application until you do.


Online submission link:

SafeSend Link

Mailing address:

CityWide Development Corporation
Attn Shane Wilken
8 N Main St
Dayton, OH 45402

Paper copies of the application and personal financial statement are available for pick-up in our office lobby between 8:00 a.m. and 5:00 p.m. Monday-Friday.

8 N Main St
Dayton, OH 45402


First Floor Fund Contact

Shane Wilken
(937) 853.2569
8 N Main St
Dayton, OH 45402


Apply for the First Floor Fund now

Personal Financial Statement