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PORT TOWNSEND – The Port Townsend Main Street program is accepting applications from businesses in historic shopping districts until Friday, October 15.
The program offers low-interest loans for Housing and Urban Development and Light at the End of the Tunnel (LENT) microloans.
HUD loans can be used for historical preservation and improving security in commercial buildings in the historic Uptown and Downtown commercial districts.
HUD loans are available for amounts of $ 1,000 to $ 40,000 and a term of 10 years.
Interest charges are set at 5%, but with prepayment, interest could be as low as 0%, according to a Main Street press release.
The LENT low-interest microloans, made in cooperation with First Federal, are designed to help with business emergencies, although the program also takes into consideration business development proposals.
Upon repayment, the funds from the LENT loan will be put back into circulation for future microloans.
For more information visit ptmainstreet.org and click on “Resources”.
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