Revolving Loan Program
Preservation Utah works to preserve, protect, and promote Utah’s historic built environment through public awareness, advocacy, and active preservation. One of the ways we support this work is by providing financial resources through our Revolving Loan Fund Program, which offers low-interest loans to assist with the rehabilitation of historic properties.
Loan applications are reviewed based on several factors, including availability of loan funds, property eligibility, borrower creditworthiness, and the historical appropriateness of the proposed rehabilitation work.
Why It Matters
When Preservation Utah launched its Revolving Loan Fund in the early 1970s, it was responding to a challenge that still exists today: historic buildings in disinvested neighborhoods were being written off as too risky to save. In Salt Lake City’s Marmalade District—once dismissed as a “slum”—abandoned homes, neglect, and disinvestment were widespread. Traditional lenders would not invest, and demolition was often seen as the only option. Preservation Utah chose a different path.
Beginning in 1973 on Quince Street, Preservation Utah:
-
Purchased endangered historic homes
-
Developed preservation-based rehabilitation plans
-
Partnered with lenders to make reinvestment possible
-
Placed preservation easements on properties to ensure long-term protection
Early successes, including the Reverend John C. Nutting House and the 1858 John Platts House, proved that preservation could be transformative. Within a decade, 17 homes had been restored—sparking private investment, infrastructure improvements, zoning changes, and the revival of one of Salt Lake City’s most vibrant historic neighborhoods.
By the late 1970s, the program evolved from purchasing and reselling homes to offering low-interest rehabilitation loans directly to property owners—first in Salt Lake City, and eventually across the state.
A Tool That Keeps Working
A revolving loan fund is a sustainable pool of capital used to finance historic rehabilitation when conventional financing is unavailable. Here’s how it works:
-
Preservation Utah provides low-interest loans, fixed at half the prime interest rate
-
Property owners repay the loan
-
Repayments return to the fund
-
The same dollars are loaned again to support future projects
Because these loans can support properties considered too risky by traditional lenders—due to age, condition, code issues, or location—they fill a critical gap in the preservation ecosystem. One initial investment can support dozens of preservation projects over time, making the program both fiscally responsible and preservation-driven.
Designated Funds, Shared Purpose
Today, Preservation Utah’s Revolving Loan Fund includes multiple designated funds, each created through donor generosity, public investment, or community partnership. While each fund has its own history and geographic or donor restrictions, they all share a common goal: helping historic places remain viable, cared for, and part of living communities.
Made Possible by Generosity
This program exists because donors, partners, and public agencies believed that historic places—and the communities around them—were worth investing in. Their support has helped protect historic buildings, stabilize neighborhoods, and keep preservation working as a practical, people-centered solution.
If you’re interested in supporting the Revolving Loan Fund, your contribution can help ensure that these resources remain available for future projects. A gift today becomes a loan tomorrow—and then a loan again—creating lasting impact far beyond a single building.