Heritage Economic Loan Pool

The Elizabethtown Heritage Council, in conjunction with the following six financial institutions, has created a low-interest loan pool program for downtown Elizabethtown. The Heritage Economic Loan Pool of “HELP” has a $4 million base for qualified applicants. The purpose of this loan is to encourage continued restructuring, revitalization, and historic preservation of downtown Elizabethtown. With the use of these funds, qualified individuals who have solid business plans will be able to purchase property and/or make renovations to existing properties to bring new business and lifeblood to the downtown area.

The loan pool will feature loans with the following structure:

  1. Real Estate Secured
  2. Loan Amount up to $300,000
  3. Amortization up to 20 years
  4. Construction Phase up to 1 year
  5. Maturity up to 5 years
  6. Interest Rate, WSP -1%, floating
  7. No Origination Fee
  8. No Prepayment Penalty

Heritage Council Loan Pool Participants:

  • First Federal Savings Bank
  • Magnolia Bank
  • Cecilian Bank
  • First Citizens Bank
  • Wilson & Muir Bank
  • Republic Bank