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Impacting Harrisburg

Harrisburg is home to a diverse community of people and businesses. Unfortunately, the city has experienced years of disinvestment, leading to a lack of community development and opportunities for entrepreneurs and business owners.

Community First Fund and Impact Harrisburg created the Harrisburg Business Opportunity Fund (HBOF) in 2018. The HBOF was developed to drive economic growth and help tear down barriers low-income people and People of Color face in accessing business loans. The HBOF supports business and community development in the City of Harrisburg by financing small business loans and commercial real estate projects.

Is the HBOF right for your business?

The HBOF provides financing for start-up entrepreneurs and existing small business owners, especially People of Color, whose business is (or will be) located within the City of Harrisburg. Businesses that improve the quality of life and/or provide employment and other economic development opportunities within the City of Harrisburg are encouraged to apply.

What can you use HBOF financing for?

The HBOF is for business financing only and can help business owners and commercial real estate developers with:

  • Purchase of property, equipment, inventory and other business assets
  • Working capital
  • Leasehold improvements
  • Refinance of prior debt
  • New construction or property rehabilitation

What are the terms of the HBOF?

Business loans through the HBOF have very favorable terms for eligible borrowers. The HBOF finances up to $100,000 for business loans and $200,000 for commercial real estate loans. The loans can have up to a 10-year term period with a fixed rate of 5%.

Is your business or project eligible for HBOF financing?

All business applications must meet the following eligibility requirements:

  • Business must be located in the City of Harrisburg
  • Minimum 10% down payment

All loan applications are subject to approval and will be underwritten to Community First Fund’s standards, including review of collateral and personal credit score.

Build your business… in Harrisburg!

If you think the Harrisburg Business Opportunity Fund is right for you, please reach out to our Harrisburg Office today. Call us at 717-920-1520

Want to start your loan application today?

You can begin the application process here.

The HBOF is a limited fund and is not a permanent financing product of Community First Fund.