Providence Revolving Fund

The Providence Revolving Fund manages two capital funds: the Neighborhood Loan Fund, with over two million dollars in assets, has invested seven and a half million dollars in historically low- income Providence neighborhoods to restore 460 building, including the renovation of 46 previously abandoned buildings, and invested over 23 million dollars in additional financial assistance services.  The Downcity Fund, with over six million dollars in assets, has invested over seven million dollars in loans and $95,000 in matching grants to construct 100 new housing units, assisted 18 property owners with facade renovations, and provided gap financing for development projects for the commercial district in downtown Providence.  The fund has served as consultants to Smith Hill Community Development Corporation, West Elmwood Housing Development Corporation, along with many others.

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