Areas Served: City of Alexandria
The Alexandria Area Economic Development Commission offers a revolving loan fund for businesses in Alexandira, Minnesota.
Revolving loan funds (RLF’s) can provide businesses with direct loans, loan guarantees, and other financial assistance.
As the Fund receives the principal and interest payments from outstanding loans, the money is made available to another borrower.
RLF’s are designed to alleviate the high cost and short supply of capital by providing flexible loan terms.
Typically, RLF’s provide lower rates, longer terms, and reduce the overall risk of the loan.
Eligibility: Acquisition and/or improvement to land, building, business facilities and equipment, new construction or renovation of existing facilities, demolition, rehabilitation or site preparation, equipment and machinery purchase, or acquisition/improvement of real property for subsequent lease.
Maximum loan amount is $50,000. Funds cannot be used to finance working capital or professional fees.
Contact Information
Alexandria Area Economic Development Commission
Address: 610 Fillmore St, Suite 1
City: Alexandira
State: Minnesota
Website:
https://alexmn.org
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