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Posted: January 24, 2013 While Street Construction is Happening, Think About a New Facade

 Think About a New Facade While There's Street Construction

 

Does your business need a facelift?  The Regional Business Fund offers a Downtown Façade Loan to  encourage property and business owners in Downtown Eau Claire to revitalize the buildings.  This program offers up to $30,000 at 0% interest!  It's something to think about while street construction will be taking place on S. Barstow Street this year.

 

ELIGIBILITY

  • Be located in the boundaries of Downtown Eau Claire
  • Demonstrate ability to repay the loan
  • Property taxes must be kept current
  • Provide acceptable design plans for building renovation
  • Eligible activities include:  facade renovation; exterior lighting, doors, and graphics; signage, windows, and awnings; other facade or landscape improvements

DESIGN REQUIREMENTS

Applicants must provide acceptable facade design plans that comply with approved general design guidelines adopted by local governments.

FINANCE TERMS AND CONDITIONS

  • Loan size can range from $5,000 to $30,000
  • 0% fixed interest rate
  • Repayment terms up to 15 years
  • All loans shall be secured by a mortgage on the property being renovated
  • Unlimited personal guarantees are required for any owner with greater than 20% ownership interest in the business 

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