Areas Served: City of Cloquet
The City of Cloquet, Minnesota has a variety of revolving loan monies available to help local businesses grow and expand.
These funds have been accumulated from a variety of State and Federal economic development grant awards.
Critical to each of these programs is the addition and/or creation of new jobs.
Use of these program monies is determined on a case-by-case basis.
Applicants are required to have private sector investment from area lenders, private equity or other sources.
Loans can be for land acquisition, building construction, site improvements, equipment and lease holders improvements.
The City does not use these monies to make forgivable loans or grants.
Loans are typically at below market rates, depending upon the project and for terms consistent with normal collateralization.
Contact InformationCity of Cloquet, Minnesota
Address: 1307 Cloquet Avenue
City: Cloquet
State: Minnesota
Website:
http://www.ci.cloquet.mn.us/vertical/sites/%7B77C3A693-7604-40A4-BB25-DF2131FEB671%7D/uploads/Loan_Programs_-_Application_Final_6-6-12.pdf
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