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Business Loan Program

"Helping Private Companies Prosper"

Ramsey County receives funding from federal sources and repayments of current loans to capitalize its loan pool. Business Loan staff provides technical assistance in meeting program requirements and will work with applicants to determine the most appropriate source for financing. Accepted loan application packages are reviewed by an independent committee; loan terms and conditions are negotiated by Ramsey County and repayment is made to the County.   

Businesses Benefit

  • Gap financing can be used with other private and public funds
  • Rates and terms are more flexible than the market
  • Low application fees and efficient processing

Ramsey County Benefits

  • Private investment strengthens our economic base
  • Retaining and expanding businesses help stabilize neighborhoods 
  • Building the job base will assure the opportunity for a better quality of life

Communities Benefit 

  • Diversifying the economy encourages equilibrium
  • Good jobs support small business and retailers
  • Decent jobs for young families bring children into the school system
  • Full employment enhances the residential market through preservation and upgrading of existing homes, and new construction of "lifestyle" housing

Applicant Eligibility

Loans are available on a first-come, first-served basis to for-profit start-up or expanding businesses. Loans are restricted to commercial, industrial or service businesses located in or moving to Ramsey County. To qualify, businesses must be registered to do business in Minnesota and must demonstrate a need for public financing.

General Requirements 

Create or retain a minimum of five full-time jobs; a majority of which must be available to low and moderate income employees. Enter into a hiring agreement to consider applicants from a job-ready pool referred by the County's Job Training Partnership. Obtain at least 60% of financing from other sources; expanding businesses equity injection should be a minimum of 5% of fixed assets. New and start-up businesses must provide at least 20 percent in equity investment in fixed assets.

For more information or to request an application package you can contact us.