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.

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