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The Retail Incentive Fund, administered by the Center City Development Corporation, offers loans for the expansion of existing retail and service businesses and for existing businesses wishing to establish a retail branch in Downtown. Additionally, new retail and professional services businesses in the CBID are eligible.
The program assists the potential businesses in securing financing for short-term working capital, inventory, or tenant improvements (furniture and fixtures, machinery and equipment, and leasehold improvements) by enhancing the equity position of the borrowers. The Center City Development Corporation places a 24-month certificate of deposit with the lending institution for an amount equal to 20% of qualified loans or a maximum equity enhancement amount of $35,000 per loan. The applicant must invest a minimum of 10% of personal capital into the loan.
For more information about the Retail Incentive Fund, download the application for contact the CCC Development Department at 901.575.0540.
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