No balloon payments
Flexible repayment options
Competitive rates
Various Loan repayment streams
Pooling Options – Increased Savings
Proposed projects must be an awarded CDBG project which is in good standing with OCRA;
Any CDBG recipient experiencing a gap in expected funding to project completion;
A gap may not necessarily be due to bid overruns, and could include drop-outs of previously committed funding or match.
Loan term: 10 years
Maximum loan amount: unlimited
No additional federal requirements or additional monitoring is required