Seeking Qualified Contractors!!!
A new loan program is looking for contractors.
Are you a good fit?
Contractor Requirements__________________________________
-
- All contractors must have a current Philadelphia
Contractor’s License or Registration with the
Pennsylvania Attorney General’s Office and a
Commercial Activity License; - No outstanding public liens, judgments, or taxes
owed to the City; - Provide at least two (2) positive customer
references.
- All contractors must have a current Philadelphia
Payment Terms______________________________________
- Contractor(s) may seek an advance for up to 30%
of contracted work, with the balance due upon
completion of all work on the unit and after the final
inspection is performed. - Lender will cut separate checks, for up to three
(3) contractors. - Maximum repair contract amount, including
contingency, is $50,000.
Being listed as a pre-qualified contractor does not guarantee that a homeowner will select your company to perform repairs. If your company is selected to perform work, you will need to provide your Philadelphia Contractor’s License Number or PA Attorney General’s Office Registration Number and proof of necessary insurance prior to loan closing.
Restore, Repair, Renew is a program designed to help homeowners access affordable home repair loans ranging from $2,500 to $50,000 to improve their properties. Reach out to the non-profit selected to implement the program:
This program and the criteria and conditions thereof may be subject to future modification. The definitive terms and conditions of any loan offered under the program will be set forth in fully executed loan documents. Unless and until such loan documents are fully executed, there shall be no contractual obligation for the lender(s) to provide any loan nor shall there be any liability whatsoever between and among the Philadelphia Redevelopment Authority, the lender(s) and any homeowner seeking a loan under the program.