Troy Reinvestment Fund Revolving Loan Program

As part of the City of Troy’s commitment to economic development and downtown reinvestment, the City created a locally funded Small Business Development Revolving Loan Fund (SBD). The SBD typically provides loans to qualified small businesses throughout the City for capital equipment, building improvements, property acquisition, and other expansion-related costs that support job creation. In partnership with the Troy Reinvestment Fund (TRF), an Ohio nonprofit, the City of Troy has created the Troy Reinvestment Fund Downtown Revolving Loan Program to target reinvestment in the historic downtown.

Using $200,000 in funding from the TRF, the City will process loan applications and recommend eligible projects to the Loan Review Committee (LRC). Because of this targeted purpose, loans under this program are not required to meet traditional job creation requirements. Loan amounts will range from a minimum of $10,000 and maximum of $50,000 with a typical term of five years, based on the useful life of the assets financed and the size of the loan.

Fire Sprinkler Loans

In 2026, Troy City Council approved a new loan program to assist downtown property owners wishing to install or upgrade fire sprinkler systems. The program is designed to reduce financial barriers to purchasing and renovating historic downtown buildings, especially those with underutilized upper floors.

Under the fire sprinkler loan program, property owners may apply for loans ranging from $10,000 to $50,000. Eligible properties include buildings located on Market Street between Water and Franklin Streets, and on Main Street between Plum and Mulberry Streets. For more information, contact Development Director Tim Davis at 937-339-9601 or at tim.davis@troyohio.gov.

Review the loan application here.