Areas Served: Cottonwood, Jackson, Lincoln, Lyon, Murray, Nobles, Pipestone, Redwood, and Rock counties Initially capitalized in 1995 the SRDC Revolving Loan fund has made 116 loans in the region for a total of $6.1 million. As repayments are made to the pool they are re-lent to businesses throughout the region. Businesses in Cottonwood, Jackson, Lincoln,
Read MoreAreas Served: Sibley, Nicollet, Le Sueur, Brown, Watonwan, Blue Earth, Waseca, Martin and Faribault Counties The RNDC established the MicroEnterprise Loan Program to better serve the region. The loan program is meant to provide capital for startup and expansion for the small business activity not served by traditional lenders. Loans may be provided in conjunction with other financing. This program keys not only on credit but includes one on one counsel ad guidance. This
Read MoreAreas Served: City of Waseca The City of Waseca, Minnesota offers loans for business expansion projects and the rehabilitation of certain downtown businesses through the Waseca Revolving Loan Fund. Loans are available with reduced interest rates on a matching funds basis. The loans are normally subordinated. Other requirements include assistance can not exceed $3,000 for
Read MoreAreas Served: City of Morris The City of Morris, Minnesota can provide financial assistance to businesses in the City of Morris using its revolving loan fund. The City currently has two loan programs for Gap Financing and Storefront Renovations. Annual interest fixed rate of not more than 3 percent for the term of the loan
Read MoreAreas Served: City of Melrose The purpose of the City’s Revolving Loan Fund is to provide gap financing to eligible credit-worthy businesses for expansion or modernization of existing or new facilities that create or retain jobs in Melrose, Minnesota. Manufacturing, industrial, commercial, and retail businesses within the City are eligible to apply for these funds.
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