The Carlisle Borough Commercial Revitalization and Shopsteading Loan Program offers businesses or properties with commercial tenants located in or surrounding the downtowns low-interest financing for projects designed to improve the business community and prompt foot traffic. The loan program is focused primarily on retailers and restaurant businesses or other traditional downtown enterprises. Financing can be obtained to purchase or improve properties, for equipment, fixtures or furnishings, for site improvements or for working capital.
This program is often used in conjunction with others programs and incentives offered in the county and by the Downtown Carlisle Association as well as through our valued partners including local, state and federal government agencies and private lending institutions.
No application is accepted without an initial interview with the Redevelopment Authority’s Downtown Coordinator Rebecca Yearick to discuss the merits of the candidate project and its impact on Downtown Carlisle. Applicants are encouraged to involve the Redevelopment Authority early in their plans to identify a property, purchase or lease and open their business as funding is limited and commitments to worthy projects may be made well before financing is requested or obligated.
Downtown Carlisle, the area surrounding downtown or along a gateway corridor
the jobs must be available to persons from low to moderate-income-level households
acquisition, new construction, rehabilitation, site improvements, acquisition or rehabilitation of fixtures, furnishings, equipment or major systems, or for working capital when the property is owned by the borrower
rehabilitation, site improvements, acquisition or rehabilitation of fixtures, furnishings, equipment or major systems, or for working capital when the borrower does not own the property
the Cumberland County Redevelopment Authority administers this program on behalf of Carlisle Borough and will underwrite the loans; Authority staff will review the application and secure all approvals for qualifying loan requests
there is no fee to apply; applicants can expect to pay a minimum of $500 for attorney’s fees and closing costs