The Colorado Historical Foundation (CHF), through a grant from the History Colorado State Historical Fund, created the CHF Revolving Loan Fund to leverage resources available for preservation of Colorado’s historic buildings. The Loan Fund provides low-interest rate loans as an additional funding source for historic preservation.
The Loan Fund is managed by the Colorado Historical Foundation. Colorado Housing and Finance Authority (CHFA) acts as the fiscal agent responsible for evaluating risk and closing and servicing the loans.
Benefits
- 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
Eligible Borrowers
- Nonprofit and public entities
- Private individuals
- Commercial owners of historic properties
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.
How much can one borrow?
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
- Acquisition of designated historic property
Starting the Process
Contact the Colorado Historical Foundation request a loan application and find out more.
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