The Colorado Historical Foundation (CHF) created the CHF Revolving Loan Fund (Loan Fund) to leverage resources available for preservation of Colorados historic buildings. The Loan Fund partners with the State Historical Fund to provide low interest rate loans as an additional source of funding for historic preservation.
This permanent and self-sufficient source of capital funds is managed by CHF. Colorado Housing and Finance Authority (CHFA) acts as the fiscal agent responsible for evaluating risk and closing and servicing the loans.
Below-market, fixed-rate loans to fund eligible restoration and rehabilitation costs.
Loans can supplement State Historic Fund grants and other historic preservations projects.
Independent source of external financing
Flexible terms and collateral
Nonprofit and public entities
For-profit owners of historic properties
What Are the Loan Terms?
The Loan Fund offers fixed-rate loans with flexible terms up to five years. Interest rates are negotiable but attractive. Repayment schedules are flexible and the borrower can prepay loans without penalty. The loans typically require minimal down payments.
Are the Loans Secured?
Generally yes. A lien on the property that is receiving the benefit of the improvements will typically secure the loans. Additionally, majority owners will have to provide a personal guaranty on the loan.
What Is the Maximum and Minimum Loan Size?
Although there are no minimum or maximum loan amounts, loans of less than $100,000 or over $750,000 will be considered only under special circumstances and based on funding availability.
What Are the Eligible Uses of the Loan Funds?
The borrower must utilize loan proceeds for costs that would otherwise be eligible for funding by the State Historical Fund. Eligible loan uses include:
Construction loans to rehabilitate a designated historic property
Bridge loans to cover cash shortfalls for a qualified restoration or rehabilitation project
Starting the Process
Contact Lane Ittelson at email@example.com to request a loan application and find out more.