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Development Loan Program

The Development Loan Program is a financial incentive that is designed to encourage commercial real estate development in the CBID. This low-interest loan program offers up to $200,000 for building renovations based on established project evaluation criteria. The loan is amortized over a 20-year period at a one percent (1%) interest rate with a balloon payment due at the end of the tenth (10th) year.

This program is administered by the Center City Development Corporation, an affiliate board of the Downtown Memphis Commission. Projects must fall within the boundaries of the Central Business Improvement District.

To be eligible for the Development Loan, the project’s building renovations, site improvements or new construction must fall within the following list:

  • Exterior facade repairs like brick tuckpointing, painting, window and door replacement/repair, cornice line construction, storefront repair and canopy reconstruction.
  • Other exterior improvements like roof repair and replacement.
  • Interior structural improvements like floor joist installation and ceiling repairs.
  • Building system improvements like installation of plumbing and electrical service as well as heating, cooling, and ventilation systems.
  • First floor, non-residential, tenant improvements that are permanent in nature. Removable fixtures like lamps, switches and interior doors are not eligible. Equipment like sinks, refrigerators and shelves are not eligible.

Development Loan Program Resources:

Downtown Development Loan Application

EBO Program Guidelines