Creative financing is used when conventional bank loans doesn’t work, or can’t meet the total funding requirements. Financing instruments are available through public and not-for-profit organizations to fill a financing gap, and typically come in the form of: low interest loans, tax benefits. expense reimbursement, and grants.
Putting together a financing package is like putting together a puzzle. Each piece should fit into the whole picture to optimize the project’s success. The goal is to provide financing that is accessible (eligible uses), affordable (at low-cost), timely (when needed), and with minimal restrictions (flexible terms). Attached are two documents that list Creative Financing Tools offered through the City and others.
Key Benefits of Creative Financing:
- Lower Interest Rates. . that result in cash savings
- Lower Down Payment . . to preserve equity and build initial cash reserve
- Longer Term Loans . . to reduce monthly payments manage cash flow
- Flexible Structure . . to adapt terms of loan to facilitate bank lending
Please contact Cesar Suarez 309-494-8645 or firstname.lastname@example.org to receive a review of what may be available to fund your project.