The Community Facilities Lending Program was established to provide funding in rural areas. These loans are targeted toward high poverty census tracts or persistent poverty counties. The long terms and fixed rates make access to capital in these areas more affordable.
Who May Apply for this Program?
Eligible borrowers for Community Facilities Lending Program include:
- Public bodies such as counties, boroughs, cities, villages, townships, special purpose districts such as fire protection district
- Non-profit corporations with significant ties to the community
- Indian tribes on Federal and State reservations and other federally recognized tribes
What is an eligible area?
Rural areas including cities, villages and townships including Federally Recognized Tribal Lands with no more than 20,000 residents according to the latest U.S. Census Data are eligible for this program.
How May Funds be Used?
Applicants may use the funds from the re-lender to purchase, construct, and/or improve essential community facilities, purchase equipment and pay related project expenses. Examples of essential community facilities include but are not limited to:
- Healthcare facilities such as hospitals, medical clinics, dental clinics, nursing homes, or assisted living facilities
- Public facilities such as town halls, courthouses, libraries or domestic violence centers
- Infrastructure such as street improvements or bridges
- Community support services such as child care centers, community centers, fairgrounds or transitional housing
- Public safety services such as fire and rescue facilities such as fire stations and fire trucks, ambulance stations and ambulances, prisons, public works vehicles or equipment
- Educational services such as museums, libraries, colleges, and public, charter or private schools
How to Apply?
To learn more about Community Facilities Lending Program or to apply, contact us.