Low Interest Rate Loans

Low interest rate loans for downtown businesses.

Businesses in the historic district qualify for low interest rate loans for various purposes.

Download the full application here:  2014_HVDDC_Loan_Application

The Henderson-Vance Downtown Development Commission, Inc. (H-VDDC) has been active in revitalization and economic development of our Historic Downtown area.

It is the goal of the H-VDDC to support all efforts to make our Historic Downtown a great place to shop, eat, be entertained and work. Almost all of the shops and offices in the  Downtown are classified as small or rural businesses. One of the main barriers to  economic development is the lack of funds to aid and assist the businesses. It is the goal of the H-VDDC Revolving Loan Fund (RLF) and the H-VDDC Revolving Loan Committee  (RLFC) to make small loans available to these businesses to stimulate the creation of new jobs and/or maintain existing jobs.

The RLFC will consider the financial need of each application, the probability of success, the security offered, and the overall benefits of the project to the Henderson Historic  Downtown Business District; including the number of jobs to be created or retained, diversification of the economy, the extent of the upgrading of skills of the overall  workforce, the quality of the jobs in terms of pay scale and benefit package and for  community development projects, improvements to the community infrastructure, facilities and/or acquisitions that improve the health, safety and/or medical care of area residents.

The H-VDDC will accept and consider applications for loans from the RLF for
projects that benefit the Henderson Historic Downtown area.

The H-VDDC Revolving Loan Committee (RLFC) is appointed by the Board of Directors of The Henderson-Vance Downtown Development Commission, Inc. (H-VDDC) and has the sole authority for approval or denial of loans from the RFL and is responsible for all  decisions and actions of the RLF. The RLF will be operated and maintained solely by the  H-VDDC Board and its Loan Committee.

The RLF seeks to help finance projects within the Henderson Historic Downtown District and is not meant to always be the sole provider of funds for all projects in the Downtown area. The RLF will work with all lenders and collaborate to help provide a financial package that will bring any proposed project to completion and at the same time minimize the RLF participation in the project, where more money is required than the RLF can supply.

It is not the intent of the RLF to compete with area lenders but rather to provide seed money to generate economic development.

Financial Information provided in connection with a RLF loan request will at all
times be kept confidential to the extent allowed by law, by all persons on the HVDDC Revolving Loan Committee (RLFC) as well as the H-VDDC Board of

The H-VDDC Revolving Loan Committee (RLFC) is an equal opportunity lender
and requires recipients to adhere to all equal opportunity laws.

The lending area for eligible borrowers is the area delineated and under the
auspices of the H-VDDC.