Minneapolis Community Planning and Economic Development DepartmentBusiness Finance Programs
Business Finance publications and resources
Business Finance financing tools The city of Minneapolis offers a wide array of financing tools for Minneapolis businesses of all sizes. Loans range from $1,000 to $10 million, and many are offered in partnership with private lenders and nonprofit organizations. 501(c)(3) Revenue Bonds: low-cost, tax-exempt bond financing for capital improvement projects to nonprofit organizations. Alternative Financing Program: profit-based financing to Minneapolis business for equipment and/or building improvements where no interest is paid or collected. The rate of return is based on an up-front profit payment. Bank Qualified Bank Direct Loans: cost-effective tax-exempt financing for capital projects for smaller 501 (c)(3) organizations. Business Development Fund Loans: market-rate loans and in some cases prepayment credits for employing Minneapolis residents. Capital Acquisition Loans: loans in cooperation with private banks to help small businesses and community organizations purchase and rehabilitate small commercial and industrial properties. Common Bond Revenue Bond Program: a loan fund for growing manufacturing companies for land, construction and equipment. Emerging Entrepreneur Capital Acquisition Loans: loans in cooperation with private banks to help newer businesses (two years or newer) purchase and rehabilitate small commercial, multi-use or industrial properties. Green Development Resources: resources to help businesses develop an approach to building and remodeling that encompasses healthy air quality, sustainable building materials, water conservation, energy efficiency and environmentally friendly landscaping. Loan Guaranty Program: working capital term loans or revolving lines of credit in cooperation with private banks. Revenue Bonds: bonds to finance industrial, commercial and medical facilities, multifamily rental housing, nursing homes and some nonprofit activities. Two-Percent Loans: financing to small Minneapolis businesses for equipment and building improvements. Two Percent Commercial Corridor/Commercial Node Loans: financing to small Minneapolis businesses to purchase equipment or to make building improvements on commercial properties located in designated Commercial Corridors and Commercial Nodes. Online information from the City of Minneapolis at www.ci.minneapolis.mn.us/cped Updated February 11, 2010 |
