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.

Related Resources

  • Housing

    USDA Rural Development Multifamily Housing Programs

    U.S. Department of Agriculture

    Multifamily Housing assists rural property owners through loans, loan guarantees, and grants that enable owners to develop and rehabilitate properties for low-income, elderly, and disabled individuals and families as well as domestic farm laborers.

  • Housing

    Single Family Housing Direct Home Loans

    U.S. Department of Agriculture

    Also known as the Section 502 Direct Loan Program, this program assists low- and very-low-income applicants obtain decent, safe and sanitary housing in eligible rural areas by providing payment assistance to increase an applicant’s repayment ability.

  • Housing

    Single Family Housing Repair Loans and Grants

    U.S. Department of Agriculture

    Also known as the Section 504 Home Repair program, it provides loans to very-low-income homeowners to repair, improve, or modernize their homes, or provides grants to elderly, very-low-income homeowners to remove health and safety hazards.