PRE-CONSTRUCTION LOAN PROGRAM

The Pre-Construction Loan Pool offers low interest loans for the purchase of goods and services related to pre-construction, such as:

Financial feasibility analysis
Architectural services
Regulatory approvals
Site acquisition

This loan cannot be used to reimburse staff costs of the borrower, and it is available only in the context of expected construction financing via PCDC.

Financing Level
As determined by project needs. Previous development loans have typically ranged from $200,000 to $800,000.

Term
Repaid from proceeds of PCCF Construction Loan

Security
May require mortgage. Loan may be forgivable under certain circumstances.

Interest Rate
3.5% to 5.5%