Borrower must leverage other private or public funding for the project. Existing arts related businesses with a six-month verifiable track record or emerging arts related businesses that have sufficient investment to justify the loan and shows promise and business viability. Borrower must leverage other private or public funding for the project. Buyers are expected to contribute 28 to 30 percent of their income to carry the first and second mortgage and other housing expenses. Investment Area includes all of Benton harbor city and the greater Benton Charter Township area.
Loans are subject to approval in accordance with eligibility and lending guidelines.
Terms subject to change.