Richmond, Maine - a wonderful place to live and visit

Richmond Revolving Loan Committee

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The Richmond Community Development Revolving Loan Committee meets on the first Tuesday of every month at the Richmond Town Office at 6:00 p.m. (The Committee only meets as needed.).

The Town of Richmond has community revolving loan funds that are available to provide low interest loans to eligible property owners and businesses throughout Richmond.  Applications are available at the Town Office for anyone interested in borrowing money.

Home Improvement Loans are available to:

  • Make energy conservation improvements
  • Install septic or water systems
  • Replace heating systems
  • Repair roofs
  • Other home repairs

Maximum aggregate amount to borrow is $20,000 with repayments up to 10 years at a 3.5 % fixed interest rate (NEW low rate!).

TIF Business Loans are available for Richmond Businesses:

  • Building improvements or repairs
  • Business equipment
  • Business marketing cash flow

Maximum aggregate amount to borrow is $25,000 with repayments up to 5 years at 5% interest.

Committee (as of May 2016):

Deb Howe, Chairman
Leighton Carver
Lois Legendre
O'Neil Laplante, Selectboard Rep.
Tammy Pender, Alternate


1 Alternate position open (as of May 2016)
 


Helpful Documents (there are also hard copies at the Town Office):

Revolving Loan Program Brochure

Community Development Loan Application

TIF Business Loan Application

Sample Cash Flow Worksheet

Personal Financial Statement Worksheet

 

 

 

"Richmond’s loan programs helped us with home improvements and also with the purchase of our business property. I highly recommend these programs!"

- Joyce McKenney, McKenney Tree


 

 

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