The city of Hartford is accepting applications for $5 million in forgivable loans for businesses and owners of commercial property in the city.
The money is intended to build new storefront spaces and expand existing storefronts. It's available for locations in the city's major commercial hubs, including Albany Avenue, North Main Street, Park Street and Maple Avenue.
“We applaud the city for bringing much-needed investment into our neighborhoods and for having the commitment to seek community input during this process,” Logan Singerman, executive director of Southside Institutions Neighborhood Alliance, or SINA, said in a statement.
“For a property struggling with blight, a little bit of investment can go a long way," Singerman said. "It can be the difference that takes a blighted storefront from being boarded up to filled up, from having litter lining the entrance to having people lined out the door."
Singerman called the program a "transformative step" to benefit Hartford's Park Street, which has long been a hub for the region's Puerto Rican and Latino community.
The funding comes from the Neighborhood Investment Fund program.
The maximum loan amount is $250,000 per storefront. Business or property owners must contribute a matching amount of money to each project. If owners pay their city property taxes for five years, the loan will be forgiven.
Learn more
An online application for the Neighborhood Investment Fund Program can be found here. The city began accepting pre-applications in February. Priority will be given to full applications received by the end of April 2025.
