Business Financing Programs in Kanabec County

The below financing programs are available to businesses located in Kanabec County, Minnesota.  For help finding your best option or options, please contact Heidi Steinmetz, at 320-209-5031, Kanabec County EDA, 18 North Vine Street, #101, Mora, MN  55051.  Your business expansion and/or relocation project may qualify for one or more of the below programs, so be sure to contact us for help in putting your financial package together.

LOCAL PROGRAMS

City of Mora Revolving Loan Program (Guidelines)
Contact:  Beth Thorp, Planner, City of Mora 320-225-4807


Mora Improvement Association Revolving Loan Fund
Contact:  Doyle Casavant, Community President, First Citizens Bank
320-209-6404


Tax Rebate Financing (aka Tax Abatement) & Tax Increment Financing
Contact:  Heidi Steinmetz, Economic Development Director, Kanabec County EDA
320-209-5031

REGIONAL PROGRAMS
Initiative Foundation Business Financing
Contact:  Dan Bullert, Business Finance Manager, Initiative Foundation
320-631-2013

  • Direct Business Loan Fund - up to $500,000 for value-added agriculture and manufacturing companies that bring new revenue to communities. Business Finance Fact Sheet
  • Technology Capital Fund - up to $500,000 for emerging high-tech ventures and technologies that increase productivity.
  • Green Business Loan Fund - up to $500,000 for businesses that preserve the environment, reduce energy demands or recycle existing waste streams.
  • Nonprofit Loan Fund - up to $100,000 for the creation or expansion of mission-related earned-income/social enterprise activities carried out by eligible nonprofit organizations. Loan proceeds may be used for working capital, equipment acquisition and/or facility improvements. Nonprofit Fact Sheet
  • Lender Match Loan Fund - up to $100,000 for manufacturing, technology, wholesale and other businesses. In partnership with financial institutions, this fund provides crucial capital to minimize the out-of-pocket cash outlay otherwise needed for a down payment on the purchase of equipment or real estate. Lender Match Fact Sheet 

East Central Regional Development Commission (ECRDC) Revolving Loan Fund (Brochure)
Contact:  Jordan Zeller, Economic Development Director,
ECRDC
320-679-4065, ext. 29

The ECRDC also publishes this Business Assistance Directory that includes a list of lenders, technical assistance providers and government officials who help businesses grow.

STATEWIDE PROGRAMS
Minnesota Department of Employment & Economic Development (DEED)
List of State of Minnesota Financing Programs
Contact:  Chinwe Ngwu, Region 7E Loan Officer, DEED
651-259-7427