Resource Details
Housing
Preservation Revolving Loan Fund
The Housing Assistance Council is committed to preserving and improving existing affordable rental housing in rural America, including USDA Section 515 properties, HUD subsidized properties, and naturally occurring affordable housing. HAC has flexible loan capital available to support preserving these critical rural housing resources.
Eligibility
Nonprofits, housing authorities, tribal entities, and for-profit developers are eligible for PRLF.
PRLF may be used for predevelopment, acquisition, site development, construction, bridge and permanent financing toward existing affordable or mixed income rental housing (with or without current income restrictions).
Top Benefits
- Loan size of $50,000 - $1,500,000 (larger loans possible in partnership with other lenders).
- Short term loans up to 24 months; longer term loans up to 120 -180 months with an amortization period up to 30 years, based on project needs.
Housing Assistance Council
The Housing Assistance Council (HAC) is a national nonprofit that supports affordable housing efforts throughout rural America. Since 1971, HAC has provided below-market financing for affordable housing and community development, technical assistance and training, research and information, and policy formulation to enable solutions for rural communities.
Contact
202-842-8600
