Facade Improvement Loan Program for Businesses

New Facade Improvement  Loan Program Available to Businesses
A new joint City of Portage/Chamber of Commerce loan program is now available to businesses and building owners for building façade improvements, including painting, masonry/brick cleaning, awnings, lighting, window repair and replacement, materials, labor, entrance rehabilitation/replacement, architectural assistance, exterior restoration, and signs.

The intent of the program is to assist existing businesses with a funding mechanism to upgrade or improve exterior, front, side and rear building facades for the purpose of creating attractive commercial business districts, and enhancing the image of Portage.

Exterior renovations for existing commercial buildings within B-1, B-2, B-3, and B-4 Business zoning districts, as well as Portage Chamber of Commerce members located within the City limits are eligible. Non-profits operating a commercial enterprise in compliance with City requirements are also eligible within these parameters

Eligible project costs must be a minimum of $3,000 and be completed within one year. A 20 percent match is required by the applicant. The maximum loan amount is $5,000., with all loans carrying an interest rate of 2%. 50 percent of the accrued interest paid on the loan will be refunded to loan recipients upon timely repayment of the loan.

Other loan program conditions also apply as enumerated in the Street Fascade Improvement Loan Program Guidelines.

The new program is being made available with monies from Portage's America's Best Communities grant award, sponsored by Frontier Communications.