Today, the City of South Bend launched the Vacant Building Credit Enhancement Fund to provide additional financing tools for small-scale developers focused on the rehabilitation of commercial buildings within the city.

Through the program, loans of up to $500,000 can be extended for qualified redevelopments. Preference will be given for projects located on the major corridors within South Bend, but all commercial buildings within the City that meet the program requirements are eligible. To qualify, revitalization projects must meet certain requirements, and loans through this fund must be matched by additional capital, including financing by a traditional lender. If approved, the loan can provide funds of up to 40 percent of the total project costs.