Downtown Development Incentives
Are you rehabbing your house or building? The Alliance office has over 40 pamphlets that provide information to help you evaluate your property, offer ideas and suggestions and checklists for trouble areas.
The Revolving Loan Fund
Available for both the city of Kenton and Hardin County, the Revolving Loan Fund is designed to encourage new start up business. It allows a business to receive a portion of its project funding in the form of a low interest loan based the number of new jobs the project will create.
Hardin County Downtown Building Improvement Loan Program
The purpose of the program is to encourage and facilitate development in the downtown areas of Hardin County’s villages and the City of Kenton. This purpose will be accomplished by providing easy to access, low cost loan funds to qualified property owners or business tenants who wish to make investments in the structure/appearance of buildings/properties they own or occupy. The ultimate goal is to stimulate property owner interest, inward business migration, storefront appearance enhancement, and overall economic growth for Hardin County.
Participating financial institutions include Community First Bank, First Citizens National Bank, Hardin Community Federal Credit Union, Home Savings & Loan Co., Huntington Bank, and Liberty National Bank.
Details of the program include:
• Loans are available for downtown building owners who would like to improve the structure/appearance of their buildings.
• Minimum loan amount is $2,500 with the maximum loan of $25,000 per borrower.
• Loan rate is fixed for the term of the loan. Loan rate will be based on Prime Rate with a floor of 5%.
• Loan payments will be made monthly for 60 months.
• There will be only one loan, at any specific time, per building.
• Loan requirements for collateral and personal signatures/guarantees will be determined by consent of the approval of the Loan Review Committee.
More information is available at the Alliance office or participating institution.
Click Here for Printable PDF Brochure
Want to start a new Business?
Stop by our office and discuss your ideas and plans with our staff. We have several resources available and work closely with the Small Business Development Center to help you plan and reach your goal.