Main Street Gardnerville offers reduced loan rate

Main Street Gardnerville has announced their newly revised loan program, just in time for the holidays.

The program has reduced the interest rate on loans from 4 percent to 2 percent for a limited time and also offers a shorter, more stream-lined application process. The loan program has been funded through money received from the U.S. Department of Agriculture Rural Development.

The loans are available to qualified business owners who would like to renovate their facilities, expand their operations, or do something else that improves their business and the downtown atmosphere. Businesses must be a member of Main Street Gardnerville and located in the Main Street district in order to apply.

All loan applications are kept confidential and subject to approval by the loan committee, a group of five financial professionals who handle similar and confidential documents daily. No Main Street Gardnerville board member or staff person will be privy to any personal information.

Program highlights include 2 percent interest, loans available in amounts from $1,500-$10,000 (may go to $50,000), repayment of 1-5 years, and no pre-payment penalty.

Eligible Uses include signs and awnings, remodeling or rehabilitation of the interior or exterior of a building, purchase of additional equipment or fixtures, purchase of additional inventory, working capital, business expansion, leveraging with other grants, energy conservation, among other uses.

Main Street Gardnerville is a community based nonprofit program involving various members of the community in order to revitalize the downtown. The Main Street Gardnerville program is part of the National Trust for Historic Preservation.

For more information, visit www.mainstreetgardnerville.org or call 782-8027.