Economic Development Administration
John O’Leary45 South 7th Street, Suite 2240
Box 10
Minneapolis, MN 55402
Phone: 1-612-986-7986
Website
EDA - Loan Guarantee
Type of Assistance: LoansIndustry: Industrial, Manufacturing, Other
Maximum Amount Available: $10,000,000
Qualifier or Eligibility
- Manufacturing or commercial enterprises.
- One job per 20,000 loan guarantee. Equity -
- 15%-25%. Land, bldg, equipment and
- working capital. Communities of declining
- population or poverty.
- Maximum: $10,000,000 Minimum: $750,000
- Interest Rates: 1.25% to 2.5% above the
- prime rate. Maximum guarantee 80%.
- 5-10 million 70%. Terms 5-20 years
