Economic Development Division

Portland Real Estate Development Loan Fund is a revolving loan fund designed to stimulate growth and development in targeted areas within the City of Portland.

This fund is available to new or existing Portland businesses for Equity Financing, Commercial Real Estate Acquisition, Building Construction and Renovation, Infrastructure and Site Improvements, Related Architectural, Engineering and Other Professional Service Costs.

Terms:

Up to 20% of project costs not to exceed $200,000.
Up to 30-year amortization with balloon payment due in 5 years.
Business Assets collateral and/or personal guarantees required.
Fees and interest rate determined by the Downtown Portland Corporation (DPC).

Eligibility:

Any new or existing Portland business that:

Is located in the City of Portland
Is investing in targeted areas within the City of Portland
Owes no outstanding property taxes, liens, fees or judgments to the City of Portland
Creates or retains jobs
Has the ability to repay the debt

For further information, contact the Commercial Loan Officer at dch@portlandmaine.gov or call 1-800-874-8144.

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