Economic Development

Sources of finance for businesses in the County and State:

Initiative Foundation  A link to the IF's different fiancing programs for businesses.
Region 5 Development Corporation  The Region 5 RDC manages the micro-lending program for this part of the state. It covers loans of as little as $1,000 to new businesses.
East Central Energy  ECE, which provides electrical service in the southern one-third of the County, has several loan programs for such things as financing for land and building acquisition, land improvements and new buildings.
East Central Regional Development Commission  The ECRDC in Mora operates a revolving loan fund for gap financing for businesses.
Minnesota SBIR/STTR Program  Go to the Minnesota DEED website for information on these programs which provide grants and contracts to small and start-up companies .
Family Assets for Independence in Minnesota  FAIM helps low income families save to start businesses with a matching program.
Great River Energy  GRE supplies electricity to the area through ECE and has several loan programs for business start-up or expansion.
Initiative Foundation  The IF has business finance programs in direct lending, green business lending and for technology capital.
Minnesota Business Finance Corporation  The MBFC works with businesses toward packaging of SBA loan applications.
Property Assessed Clean Energy PACE financing acts as an assessment on your property taxes for financing energy efficiency improvements or clean energy systems like solar panels.
US Small Business Administration  While they do not do direct lending, SBA works with banks and borrowers to guarantee loans.
USDA Rural Development  This branch of the USDA does lending through several programs to businesses in rural areas.