London Façade Improvement Loan

Program Description

Interest-free loan covering up to 50% of eligible exterior façade improvement costs, to a maximum of $50,000, for commercial property owners or tenants in approved London Community Improvement Project Areas. Portions of the loan may be forgivable in designated areas, making this a hybrid financial incentive for storefront upgrades including windows, doors, masonry, painting, canopies, lighting, and signage.

Eligibility Requirements

• Registered commercial property owner or authorized agent/tenant in an approved London Community Improvement Project Area
• No outstanding debts or defaults to the City of London
• Pre-approval required — façade work cannot begin before written approval is issued
• Improvements must be to the exterior façade of a commercial building (not interior, not residential)
• All mortgages and charges on the property — including the City's own lien for this loan — must not exceed 90% of the post-rehabilitation appraised value, so the owner keeps at least 10% equity after the improvement
• Minimum loan is $2,000 — because the loan covers 50% of eligible costs, the façade project must involve at least about $4,000 of eligible work to qualify
• Neither the applicant nor the registered owner may ever have defaulted on any City of London loan or grant — including through a company or group they were part of
• No outstanding City of London Building Division orders or deficiencies on the property when the loan is issued — and none again at completion, when the City re-checks before drafting the agreement