• Dec 28, 21
• spencergregory
• Revolving Loan Fund Directory
• 0 comment

The City of Northfield, Minnesota and the Northfield Economic Development Authority provide assistance to businesses through an array of grants and loan programs.

Downtown Revolving Loan (Small) Type: Loan Administrator: Northfield Economic Development Authority Eligible Uses: Exterior and interior improvements to building in Northfield’s C-1 or C-2 commercial zones.

Amount Available: $0-$15,000 Term: 5 years Rate: Half of the prime interest rate listed in the Wall Street Journal on day of loan approval.

Private Financing Required: None Clement F.

Shearer Micro Grant Type: Grant Administrator: Northfield Economic Development Authority Eligible Uses: Development of technical, management, or marketing capabilities.

Amount Available: $0-5,000 Private Financing Required: None Downtown Revolving Loan (Large) Type: Loan Administrator: Northfield Economic Development Authority Eligible Uses: Exterior and interior improvements to building in Northfield’s C-1 or C-2 commercial zones.

Amount Available: $15,001- $75,000 Term: $15,001-$30,000: 10 years, $30,001-$75,000: 15 years Rate: The prime interest rate listed in the Wall Street Journal on day of loan approval.

Private Financing Required: 20 % of project costs Master Development Fund Loan Type: Loan Administrator: City of Northfield Eligible Uses: Property acquisition, infrastructure, public infrastructure, site improvements, and building construction on property.

– Amount Available: – Industrial Projects: $10,000-$150,000, – Commercial Projects: $10,000-$50,000. Term: – Industrial Projects: 10-20 years depending on amount, – Commercial Projects: 7-15 years depending on amount.

Rate: 80 percent of the average local lender commercial rate.

Private Financing Required: 70% of the total project cost, which includes the property, building, construction and site improvements (excluding soft costs and equipment).





Contact Information
City of Northfield, Minnesota
Address: 801 Washington Street
City: Northfield
State: Minnesota

Website: http://www.ci.northfield.mn.us/Index.aspx?NID=753

• Share :