Minnesota Investment Fund

• Cities, counties, townships to be used for
• business start-ups or expansions.
• Eligible activities are land, building, property
• acquisitions, site improvements,
• new construction, building renovation,
• purchase of machinery, equipment
• and training. At least 50% of project
• cost must be privately financed, 70%
• preferred. At least one job must be
• created for every $20,000 of funds received
• At least $1 of private funds must be
• leveraged for every $1 of grant funds.
• 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.
Funds
• Grant to community for business loans
• Applicant may not receive more than
• $500,000 in a fiscal year.
• Terms: 5-20 years
• Interest rate: negotiable
• Collateral: Personal guarantee may be
• required.