Commercial Loan Program

The City of Springfield has operated a Commercial Loan Program since 1984, capitalized by the federal Community Development Block Grant program. All loans must be used to further the United States Department of Housing and Urban Development’s priorities of either creating jobs benefiting low-to-moderate income persons or removing slum and blight. The program is currently funded through revolving loan income. There are two loan programs under the Commercial Loan Program; the links below provide details on each program.  


Authorization


24 CFR Part 570; City of Springfield Special Ordinance 26604