Small Business Expansion Program

The Saint Paul Port Authority and the City of Saint Paul have teamed up with the Community Reinvestment Fund to help businesses get the financing they need to expand and purchase new equipment. The program provides 90 percent financing for commercial and industrial acquisition and equipment purchase projects in tandem with private banks. The lender will finance at least 50 percent of the project. The Port and the city’s Planning and Economic Development Department (PED) will finance up to 40 percent. The business owner would provide the remaining 10 percent as equity. The Community Reinvestment Fund (CRF) has agreed to purchase the loans once they are made.

Minnesota Investment Fund

For businesses acquiring "fixed assets" (such as equipment, buildings, and land) and adding new workers as a result.  The goal of this program is to create new jobs and retain the highest quality jobs possible on a statewide basis with a focus on industrial, manufacturing and technology-related industries; to increase the local and state tax base and improve the economic vitality for all Minnesota citizens.  This program provides companies below-market financing. Virtually all types of businesses are eligible, excluding retail enterprises.

For more information please call Peter Klein at 651-224-5686, or e-mail him at pmk@sppa.com