Region Nine Development Commision

 

Microenterprise Loan

Contact:  LuAnn Vanderwerf, Finance Director
507-387-5643

Description:

This Loan program is meant to provide capital for start-up and expansion for the small business activity not served by traditional lenders. Loans may be provided in conjunction with other financing.

Eligible Use of Funds:

Working Capital; Inventory; Machinery and equipment; Building and/or leasehold improvements; Retail, service and manufacturing costs

Learn More:

http://www.rndc.org/microenterprise-loans

 

Nine County Revolving Fund

Contact:  LuAnn Vanderwerf, Finance Director
507-387-5643

Description:

This fund is available for loans to eligible businesses located in the 9 counties within Region Nine (Blue Earth, Brown, Faribault, Le Sueur, Martin, Nicollet, Sibley, Waseca and Watonwan)

Eligible Use of Funds:

Working Capital 5 years limited to 10% of RLF; Real estate 20 years maximum; Machinery and equipment costs 10 – 15 years or useful life.

Learn More:

http://www.rndc.org/nine-county-revolving-loan-fund

 

Six County Revolving Loan Fund

Contact:  LuAnn Vanderwerf, Finance Director
507-387-5643

Description:

This loan fund was established to strengthen ad diversify the economy of Southcentral Minnesota by prociding a source of gap-financing to new and expanded businesses. Loans are made to fill the gap between the total cost of the project and the amount that is available through owner investment, bank financing, and other sources of private funding. The goal of the fund is to leverage the maxium amount of private funds possible, in conjunction with creating the maximum number of jobs for the people of Southecentral Minnesota.

Eligible Use:

Working Capital 5 years limited to 10% of RLF; Real estate 20 years maximum; Machinery and equipment costs 10 – 15 years or useful life.

Learn More: 

http://www.rndc.org/six-county-revolving-loan-fund