Loan Programs

The Development Department offers 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 below.  For more information, please contact the Development Department at (937) 339-9601.

 Troy Economic Development Revolving Loan Fund

The Troy Economic Development Revolving Loan Fund is a city-administered program leveraging federal dollars to provide “gap financing” to businesses that have a primary lender. The Troy ED RLF strengthens cash flow and capacity position for the business by requiring less equity and providing a lower interest rate. In addition, the program is attractive for banks as the City helps guarantee the loan.  

See the program brochure here.

Small Business Development Loan

The Troy Small Business Development Loan Program is a city-administered revolving loan fund using local dollars. The program was designed to assist existing businesses that are expanding, but having difficulty securing traditional financing.

See program brochure here.

Residential Exterior Housing Improvement Loan Program

The City of Troy’s Residential Exterior Housing Loan Program provides funding to repair owner-occupied single-family homes in the City of Troy. The goal of the program is to improve the housing stock in the City that in turn stabilizes and/or increases home values.  

See the program overview here.