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Our program fuels the creation of jobs for small businesses in Saint Paul by providing for their working capital needs. We believe that with our help these businesses will grow and prosper within our community.
| Post Authority Requirements:
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Benefits to City Workers and Taxpayers:
- business retention and growth
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Benefits to Consumers:
- provides funding of cash needs at the start of the operational cycle
- enables lenders to have sufficient collateral to make the loan
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| Examples:
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By providing a guaranty on a loan from $10,000 to $250,000, we enhance our customer’s borrowing power. Our guaranty for those loans is capped at $100,000 or 75 percent of the loan, whichever is less.
Eligible light-industrial applicants must be in business for at least three years and demonstrate the potential for growth and increased job opportunities for the Saint Paul workforce.
For more information, call Bruce Gehrke or Peter Klein at the Saint Paul Port Authority, 651-224-5686. Or e-mail Bruce at bhg@sppa.com or Pete at pmk@sppa.com
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