The Tenant Improvement Loan Program guidelines are as follows:
1. Borrower must be the property owner or owner/developer*
2. Borrower must pass on savings to a small business tenant in the form of reduced rent or other flexible lease terms, such as reduced security deposits, free utilities, etc.
3. Maximum loan amount of $100,000
4. Maximum loan term of five years
5. Tenant improvements for the following types of businesses are not permitted:
- Fast Food
- Check Cashing
- Liquor Stores/Smoke Shops/Cannabis-Related Businesses
- Adult Businesses
- Firearms Retailers
- Formula Retail (chain stores)
* If you are a small business that will be leasing a property, please contact the landlord/property owner to gauge their interest in this loan program.