Minnesota Department of Employment and Economic Development
Reed EricksonFirst Natl Bank Bldg Suite E200
332 Minnesota St
St Paul, MN 55101
Toll Free: 1-800-657-3858
Phone: 1-651-259-7456
Website
Section 108 Loan Guarantee Program
Type of Assistance: LoansIndustry: Cities, Counties, Townships
Maximum Amount Available: $0
Qualifier or Eligibility
- Pledge of future CDBG funds. Eligible
- applicants are cities, counties, and
- townships outside. St Louis County - less
- 50,000. Federal objectives are to benefit
- low and moderate income (LMI) people,
- eliminate slums and blight, or alleviation
- of urgent community development needs
- - at least 51% must be filled by LMI people.
- Economic Development, Historic districts,
- housing, commercial areas, micro enterprises,
- technological and bio-chemical or special
- economic development project, building,
- land, utilities, etc.
- Guaranteed - may not exceed five times
- entitlement community annual CDBG grant.
- Terms: 6-10 years. Rates: below market.
