Port Townsend Main Street seeks applications for business loans

PORT TOWNSEND — The Port Townsend Main Street Program is accepting applications from businesses in the commercial historic districts through Friday, Oct. 15.

The program is offering Housing and Urban Development low interest loans and Light at the End of the Tunnel (LENT) microloans.

The HUD loans can be used for historic preservation and safety improvements in commercial buildings in both the Uptown and Downtown commercial historic districts.

HUD loans are available in amounts from $1,000 to $40,000 and a 10-year term.

Interest charges are set at 5 percent, but with early repayment, interest could be as low as 0 percent, according to a Main Street press release.

LENT low-interest microloans, made in cooperation with First Federal, are designed to assist with business emergencies, although the program will also consider business development proposals.

Upon repayment, LENT loan funds will be recirculated for future microloans.

For more information, visit ptmainstreet.org and click on “Resources.”

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