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 start at a minimum of $25,000 and depend on the type of project and investment being made. Numerous Troy companies have benefited, ranging from the small retail and service businesses to larger corporations in manufacturing. As most programs operate on a "first come, first serve" basis, the available dollars for new loans will depend upon recent loan activity. Private financing is required when seeking a City loan.
Program descriptions 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 a minimum of 10 percent equity and providing a low interest rate. In addition, the program is attractive for banks as the City helps guarantee the loan.
See the program brochure here.
In 2026, Troy City Council approved a new loan program to assist downtown property owners wishing to install or upgrade fire sprinkler systems. The program is designed to reduce financial barriers to purchasing and renovating historic downtown buildings, especially those with underutilized upper floors. To launch the initiative, City Council allocated $200,000 from the Troy Reinvestment Fund. Loans issued through the program will be managed through Troy’s Small Business Revolving Loan Fund. Contact Tim Davis for more information on this loan program.
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.
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.
Troy Reinvestment Fund Revolving Loan Program
As part of the City of Troy’s commitment to economic development and downtown reinvestment, the City created a locally funded Small Business Development Revolving Loan Fund (SBD).
See the program overview here.