Minnesota RLF - Business Loan Funds

Economic Development Funds – City of Detroit Lakes

Areas Served: City of Detroit Lakes The City of Detroit Lakes provides several loan programs for businesses in Detroit Lakes, Minnesota. Contact Information City of Detroit Lakes Address: 1025 Roosevelt Avenue City: Detroit Lakes State: Minnesota Website: https://cityofdetroitlakes.com/

Revolving Loan Fund – City of St. Cloud, Minnesota

Areas Served: City of St. Cloud The City of St. Cloud, Minnesota administers a small revolving loan fund and offers flexible, low-interest financing for new and expanding businesses. Loan funds can be used for a variety of purposes, particularly building modifications and/or equipment purchases. Loan applications are available at the City of St. Cloud Economic

EDA Revolving Loan Fund – City of Becker, Minnesota

Areas Served: City of Becker The City of Becker, Minnesota may provide short term gap financing to assist businesses in the form of a loan. The purpose of such financing is to provide gap financing where conventional funding sources are not sufficient to meet the business needs for new facilities, equipment, operating capital, and start-up

Revolving Loan Fund – City of Chokio, Minnesota

Areas Served: City of Chokio The City of Chokio, Minnesota can provide financial assistance to businesses in the City of Chokio using its revolving loan fund. The City currently has a loan program for Gap financing. Loan terms of: ¢ 10 to15 year term – Real estate ¢ 5 to 10 year term – Machinery,

Intermediary Relending Program – Prairieland Economic Development Corporation

Areas Served: Statewide Minnesota in a USDA designated rural area (population less than 25,000 The IRP (Intermediary Re-lending Program) is a loan to Prairieland EDC from USDA Rural Development. Prairieland EDC, in turn, loans the funds to eligible small businesses for financing fixed assets or working capital. The goals of the IRP include these objectives: