Loans for Historic Preservation

For qualified borrowers, Maryland Historical Trust (MHT) offers capital loans to assist and encourage efforts to preserve historic properties. Support for capital projects includes acquisition, refinancing, rehabilitation, and predevelopment projects that benefit the public. 

The fixed annual rate for these loans is set by adding a competitive 0.125% to the most recent general obligation bond rate (the low interest rate the state pays when it borrows money for public projects). Nonprofits and local governments may receive an even lower rate. 

Timeline

There are two different types of applications: loan and transfer. Loan applications are accepted year-round, as funds become available. 

Transfer applications are accepted for a limited time each year, opening in November and closing in January.

Eligible applicants

• Nonprofit organizations
• Local governments
• Business entities (must show they cannot get private financing)
• Individuals (must show they cannot get private financing) 

Eligible projects  

The historic preservation loans provide funding to: 

• Acquire historic properties, such as buildings, bridges, and other qualifying structures and sites
• Stabilize, rehabilitate, or restore historic properties
• Develop plans and specifications, and architectural, engineering, or other special services directly related to pre-construction work    

Projects must comply with the Secretary of the Interior's Standards for Treatment of Historic Properties (26 CFR 68). MHT will review project progress to ensure compliance.  

Loan funds cannot pay for routine maintenance, fundraising expenses, research, exhibits, or work that has already started or been finished. See the loan guidelines for a longer list of eligible and ineligible costs. 

Eligible properties 

To qualify, a property must be listed in or determined eligible listing in for the National Register of Historic Places, either individually or as part of a historic district. Prospective applicants should reach out to MHT program staff for an eligibility determination before they apply. 

Property owner permission must be provided as part of the loan application. 

Special cases: 

• Religious properties: Loans can generally only fund structural or exterior work, not work on interior worship spaces or elements bearing religious imagery.
• Cemeteries: May qualify for assistance, but the applicant must demonstrate clear property ownership. 

How to apply  

1. Contact MHT staff to discuss eligibility and whether there is available funding. You must do this as a first step to qualify.
2. Review program guidelines and manual for complete information on loan terms, project eligibility, the transfer program, and more.
3. Prepare the application and submit required attachments, such as the project description, financial statements, cost estimates, appraisal/report, and evidence of public benefit (if required).
4. If the loan is approved, MHT coordinates loan settlement. 

The full process typically takes 6 to 9 months from application to settlement. If a property receives loan funding, a historic preservation easement on the property must be conveyed to MHT.