Waterford’s programs were designed specifically to assist businesses in the village of Waterford.
This program is intended to assist businesses during the construction taking place in the Village of Waterford during 2019 and 2020. The loan program offers funds for working capital for $5,000 with a 0% interest rate.
A business may apply for $5,000 per application each calendar year making the total available to each business $10,000 for those affected in both the 2019 and 2020 construction. Applications will be accepted through October 31, 2020, based upon availability of funds.
Anticipated areas include Main Street and State Highways 20, 83 and 36. Other areas affected by the street closure would be considered on a case-by-case basis determined by RCEDC in consultation with the Village of Waterford.
Loans are intended to provide working capital funds with
After December 31, 2020, loans will be converted to four (4) year term loans with the following terms:
The TID 4 Loan Program is intended to stimulate improvements to commercial buildings located in the Village of Waterford TID 4 (Heritage Design District).
Th maximum loan amount will be 80% of the total eligible improvement project, but with a maximum of a $75,000 loan per property. Projects will be evaluated on a case-by-case basis. Projects will be awarded on a first come, first serve basis.