Providence Revolving Fund

The Providence Revolving Fund (PRF) was established in 1980, as an independent non-profit corporation. The organization was formed in order to provide financing to preserve structures in historic districts that faced underinvestment because of the redlining of neighborhoods. PRF is Rhode Island’s only homegrown CDFI focused on housing, historic preservation and equitable neighborhood revitalization. The PRF model focuses on providing investment to neighborhoods where the plurality of the residents are People of Color and/or low-income and where the building stock is historic (over 50 years old). In the past 40 years the Providence Revolving Fund (PRF) has made 500 loans -$40 million in financing; developed 63 buildings; and leveraged an additional $280 million.