Providence Revolving Fund – Statewide Home Repair Program

About This Program

The Statewide Home Repair Program, launched November 15, 2025, provides forgivable loans funded by Rhode Island's $120 million housing bond to homeowners and small landlords needing critical repairs. Loans up to $50,000 (1-2 units) or $75,000 (3-4 units) are forgiven 20% per year over five years, with no out-of-pocket costs and no direct contractor payments. Providence Revolving Fund manages contractor selection and construction oversight.

Forgivable loan: 20%/year over 5 years; 1-2 units up to $50,000; 3-4 units up to $75,000.

Key Details

• Income at or below 80% AMI; single family through 4-unit properties
• Forgivable loan: 20% forgiven per year over 5 years
• No out-of-pocket costs; Providence Revolving Fund manages contractors
• 1-2 units: up to $50,000; 3-4 units: up to $75,000
• Walk-in hours at 383 W Fountain St, Providence RI 02903

How to Apply

Deadline: Check revolvingfund.org for portal reopening; walk-in hours at 383 W Fountain St