OUR PROGRAMS

Home Repair Loans

PRF offers affordable home repair loans for the exterior renovation of homes 50+ years old. Our products have flexible underwriting and terms that make non-traditional lending possible. Not only are we responsive and flexible, but our PRF also provides soup to nuts services that support homeowners through the renovation process.


It starts with a free cost estimate by one of our project managers. Once we work with you to get the scope of work and costs down, we design a loan that specifically meets your needs. Then, your project manager stays with you through the entire process to make sure you pick contractors you are comfortable with and that the job is done properly.


Funds are escrowed and paid directly to the contractor, helping the homeowner feel safe knowing the job is getting done the way they want without the hassle of worrying about payments and the other pressures of renovations.


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Home Repair Loans

PRF specializes in affordable home repair loans tailored for the unique needs of homes aged 50 years and older. Our innovative approach includes flexible underwriting and terms, making it easier for homeowners to qualify for non-traditional lending. Beyond financing, PRF is committed to supporting you every step of the way through the exterior renovation process with our comprehensive, end-to-end services.


It starts with a free cost estimate by one of our project managers. Once we work with you to get the scope of work and costs down, we design a loan that specifically meets your needs. Then, your project manager stays with you through the entire process to make sure you pick contractors you are comfortable with and that the job is done properly.


Funds are escrowed and paid directly to the contractor, helping the homeowner feel safe knowing the job is getting done the way they want without the hassle of worrying about payments and the other pressures of renovations.


LEARN MORE CLICK HERE FOR INFORMATION ON THE STATE'S HOME REPAIR PROGRAM

Commercial Lending

PRF provides Developers with customize-able financing including but not limited to Pre-Development, Construction, Bridge, and Mezzanine loans. Priority is given to projects that promote deed restricted mixed-income projects where there is a preservation component. Assistance is not limited to projects in Providence.


If you are interested in discussing our financing packages, please contact Carrie Zaslow at 401-272-2760.


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Micro-Business Lending : A Statewide Small Business Loan Program

Across the entire state of Rhode Island, small businesses with 10 or fewer employees can easily access loans of up to $5,000. These funds can be used for a wide range of purposes including working capitol, expansion, fixtures, inventory, lease-hold improvements, facade improvements, or even to cover start-up costs. Originally established as a pilot program to aid entrepreneurs during the COVID-19 pandemic, our initiative has continually adapted to meet the evolving needs of micro-businesses.


We began by focusing on businesses requiring assistance to reopen safely amidst the pandemic. As we’ve moved forward, the program has expanded to offer financial support to micro-businesses in need of additional resources to maintain operations and ensure safety in an ever-changing health landscape.


This program is designed to be accessible to small businesses throughout Rhode Island, ensuring that no matter where you are located within the state, you have the support and resources to thrive.

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Small Business Assistance: LivePlan License Access

PRF is offering free access to LivePlan, an online business planning and financial performance platform that helps entrepreneurs build business plans, create financial forecasts, design pitch decks, conduct market research, and track actual business performance by integrating directly with accounting tools like QuickBooks and Xero. Small business owners are encouraged to apply quickly, as licenses are limited. Approved business owners will have access for 6 months. To request access, fill out the linked form with basic information about your business.

APPLY FOR LIVEPLAN ACCESS HERE

Historic Preservation

Providence Revolving Fund works to preserve Providence’s architectural heritage and stimulate community revitalization through advocacy, lending, technical assistance, and development in historic areas. 


Since 1982, our Neighborhood Loan Fund has invested over $10 million in low- and moderate-income neighborhoods and Historic Districts to preserve the character and charm of aging Providence properties. PRF continues to offer home repair loans, construction management, and consulting as a critical component in the preservation of our historic buildings.


PRF also houses a collection of donated salvage items from historic properties that homeowners and developers can reclaim as part of their own repair and restoration projects.

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Types of Products Available to Developers

Pre-Development

 Financing to cover a variety of expenses prior to development. Typically soft costs such as fees for financing applications, legal, architecture, engineering and other exploratory work needed prior to full financing and project start.

Construction

Financing to cover hard costs of construction while awaiting permanent financing. Often, costs from a construction loan will be financed and repaid as part of the permanent funding.

Bridge

also known as gap funding, PRF can provide the financing needed to make payments or remove existing debt prior to permanent financing is in place.

Mezzanine

These loans blend debt and equity in a project to provide a creative solution for times when there will be a substantial gain in equity from the project.

Preservation Partner

PRF is available for consultation on a variety of fee-for-service historic preservation topics that go beyond loans and grants. Our project managers can assist with developing scopes of work for a historic building rehab, provide referrals to architects and craftsmen with special expertise in preservation, manage your historic projects, offer salvaged materials for your project, and much more. No matter what assistance you need, PRF is a partner with the expertise needed to move a project forward successfully.