The Development Department offers three uniquely different low-interest loan programs available to both individuals and businesses. Qualified applicants must have a project in which investments are being made to either a business or a building. Since 1990, the Development Department has managed over seventy loans exceeding $10,000,000 in total loan funds. Loan amounts have ranged from $2,000 to $600,000 depending on the type of project and investment being made. Numerous Troy companies have benefited which include both small and big businesses ranging from the individual retail and service business to larger corporations in manufacturing. As the program operates on a "first come, first serve" basis, the available dollars for new loans will depend upon recent loan activity. Private financing is always encouraged and often times required when seeking a city loan.
Program descriptions along with a list of eligible project activities can be found in the individual attachments below. If you have any questions about the three different loan programs, please contact the Development Department at (937) 339-9601 and ask for Jim Dando or Gregg Harris.