MEDC Brownfields Revolving Loan Fund Program

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Funding Opportunity

• Loans to private developers, property owners, municipalities, and non-profit organizations. 
• Grants to municipalities and non-profit organizations.

Eligibility

• All properties within the State of New Hampshire. Sites within Cheshire and Hillsborough County will be prioritized.
• Applicants may be property owners, developers, non-profit organizations.
• The site must have a completed Phase II environmental assessment report that characterizes the type of contamination, the location and extent of the contamination, a proposed remediation strategy and budget. 
• Funding for site assessment is not available through this funding opportunity. Assessment funding is available through Southwest Region Planning Commission - https://www.swrpc.org/programs-services/brownfields/

Use of Funds 

Loan funds may be used for the cleanup of brownfields properties that have been determined to have an actual release or substantial threat of release of a hazardous substance, including:

• Installation of security controls
• Drainage controls
• Capping of contaminated soils
• Using materials to retard the spread of contaminants
• Excavation, consolidation or removal of contaminated soils
• Removal of drums, barrel, tanks or other bulk containers
• Demolition, only if necessary to conduct remediation beneath the building itself

Loan Terms

Loan amounts up to 100% of the actual cost of the cleanup are eligible.

Loan terms will be developed based upon the financing needs of the project. 

Application Process and Fees

The Brownfields Cleanup Revolving Loan Fund application is a two step process:

• A site eligibility form can be submitted at no cost and will be used to determine basic project eligibility and potential feasibility.
• If deemed eligible, a Brownfields RLF application can be submitted along with a nonrefundable application fee of $150.

The origination fee is equal to 1% of the loan amount. If the loan is approved, the application fee will be applied to the loan origination fee at the time of loan closing.

Next Steps

Contact MEDC staff to discuss your project and basic eligibility. 

(603) 313-3800 and info@monadnockedc.org

Complete a Pre-Application & Eligibility Checklist

MEDC business loan applications can be found online at nhbusinessloans.org