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The information provided by these calculators is for illustrative purposes only and accuracy is not guaranteed. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a BLP financial professional prior to relying on the results.

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Village of Waterford

Waterford Road Construction Loan Program

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.

Eligibility

  • New or existing business
  • For-profit business
  • Located in the impacted areas in Waterford

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.

Requirements

Loans are intended to provide working capital funds with

  • 0% interest until December 31, 2020
  • Up to $5,000 per calendar year (total $10,000)

After December 31, 2020, loans will be converted to four (4) year term loans with the following terms:

  • 3.5% interest rate
  • 0.5% servicing fee

I think I can speak for the Village when I say the end of road construction will be a welcomed relief

Don Houston

President of the Village of Waterford