415 South Grove Street Suite 4 · Blue Earth MN 56013 · Map
(507) 526-2151

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In accordance with Federal law and the U.S. Department of Agriculture’s policy, this institution is prohibited from discriminating on the basis of race, color, national origin, sex, age, or disability.
To file a complaint of discrimination, write to: USDA, Director, Office of Civil Rights, 1400 Independence Ave. SW, Washington D.C. 20250-9410 
                                                                                  
or call (800) 795-3272 (voice) or (202) 720-6382 (TDD).
 

GRANTS
001 Finance

LOAN PROGRAMS

  • Faribault County Revolving Loan Fund: The Revolving Loan Fund is administered by the Economic Development Authority of Faribault County and can be used as a source of gap financing for working capital, equipment, inventory, building construction and renovation. To qualify, your business must be located in Faribault County.
  • City of Blue Earth Revolving Loan Fund: The Revolving Loan Fund is administered by the Economic Development Authority of the City of Blue Earth and can be used as a source of gap financing for working capital, equipment, inventory, building construction and renovation. To qualify, your business must be located in the City of Blue Earth.
  • City of Wells Revolving Loan Fund: The Revolving Loan Fund is administered by the Economic Development Authority of the City of Wells and can be used as a source of gap financing for working capital, equipment, inventory, building construction and renovation. To qualify, your business must be located in the City of Wells.
  • City of Winnebago Revolving Loan Fund:The Revolving Loan Fund is administered by the Economic Development Authority of the City of Winnebago and can be used to provide assistance for infrastructure, loans, loan guarantees, interest buy-downs, and other forms of participation with private sources of financing. To qualify, your business must be located in the City of Winnebago.
  • Utility Revolving Loan Fund: The Utility Revolving Loan Fund is administered by the Economic Development Authority of the City of Blue Earth and can be used as a source of financing for new construction. The loan can be used for new construction or improvement of electric, water, and sanitary sewer lines and must be used in the City of Blue Earth. Applications for funds from this loan fund can be applied for using the Economic Development Authority of the City of Blue Earth's Revolving Loan Fund Application.
  • Small Business Development Loan Program: The Small Business Development Loan Program is designed to help small manufacturing and industrial businesses (usually, those with 500 employees or less) located or intending to locate in Minnesota on loans up to a maximum of $5 million. The purpose is to create jobs and provide loans for business expansions. This program in offered by the Department of Employment and Economic Development (DEED).
  • Business and Industry Guaranteed Loans (B &I): The Business and Industry Guaranteed Loan program administered by the USDA, and is designed to help create jobs and stimulate rural economies by providing financial backing for rural businesses. Businesses located in towns or cities with a population less than 50,000 may use this program for acquisition, start-up and expansion of businesses that create rural employment.
  • Micro Enterprise Loan Program: The Micro Enterprise Loan Program is administered by Region 9 Development Commission. The program is meant to provide capital for start-up and expansion for the small business activity not served by traditional lenders. The funds may be used for all costs demonstrated as essential for the project, including working capital, inventory, machinery and equipment, and building and leasehold improvements.
  • Energy Efficient Equipment Fund (E3 Fund): The E3 Fund is administered by Great River Energy and provides financing to commercial and industrial customers purchasing and installing energy efficient equipment.
  • 504 Loan Program Debt Refinancing: The 504 Debt Refinancing Program is available through the 504 Corporation. The purpose is to allow expanding small businesses to restructure qualified existing debt as part of new 504 loans to free up critical capital to expand business and create jobs. Independently-owned and for-profit businesses with a net worth of 8.5 million or less are eligible.
  • Minnesota Community Capital Fund (MCCF): MCCF has a $50,000 minimum and a $2,500,000 maximum with fixed and adjustable rate loans available. Monies can be used for fixed assets, building construction, leasehold improvements and renovations; acquisition, renovation, or moving machinery and equipment; and working capital loans secured by fixed assets with fixed repayment schedules. This fund is available in the city of Blue Earth.
  • Small Enterprise Loan Fund: The Small Enterprise Loan Fund is available through the Southern Minnesota Initiave Foundation (SMIF). The loans are available to start or expand a manufacturing, retail, or service business. Loans of up to $35,000 may be used for inventory, supplies, machinery/equipment, or working capital.

TAX CREDITS

  • JOBZ: Minnesota's Job Opportunity Building Zones (JOBZ) is a state-designed and locally-administered project. The program is designed to help increase your business's profits by relocating or expanding in Greater Minnesota by providing local and state tax exemptions to new and expanding businesses. There is JOBZ dedicated land available in the cities of Wells, Winnebago, and Blue Earth.
  • Tax Increment Financing (TIF): TIF is a tool to use future gains to finance current improvements, which in theory, will create those gains. TIF is available in the cities of Wells, Winnebago, and Blue Earth and is administered through the city administration.
  • Tax abatement: Tax abatement is a tool used by local goverments to stimulate the local economy by encouraging new investment by granting a reduction of or exemption from taxes for a specified period of time. Tax abatement is available in Faribault County and is administered through the local goverment.

 

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Ground Breaking

Looking to the future Construction begins on new North Industrial Park July 20, 2014 By Chuck Hunt - Register Editor chunt@faribaultcountyregister.com) , Faribault County Register Just shortly after an official...

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A Million Dollar Announcement

BE receives grant for industrial park.  by Chuck Hunt, Faribault County Register, September 30, 2013.  It was the news that city of Blue Earth officials have been holding their breath...

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It's Actually Happening - Albert Lea Tribune.com, by Kelli Lageson, May 15,…

WELLS — It’s finally coming together.That was the sentiment echoed by many who attended the groundbreaking for the new school building on Wednesday in Wells. Dirt is already being moved...

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UHD recognized as outstanding critical access hospital - Faribault County R…

For the second time, United Hospital District in Blue Earth has been named one of the HealthStrong (tm) Top 100 Critical Access Hospitals (CAHs) in the United States."United Hospital District...

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It's official and a good fit, too. The Courier-Sentinel Staff Writer, May 3…

Although it wasn't a surprise - the merger of the former State Bank of Bricelyn with Farmers Trust and Savings Bank of Buffalo Center, Iowa was announced last December -...

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Thirsty? No More, By Chuck Hunt, Editor, Faribault County Register. Commun…

On March 15, Jeremy Coxworth celebrated his five-year anniversary of being in business operating Coxworth Water Conditioning in a big way.It wasn't with balloons or banners, champagne or prizes.Instead, Coxworth...

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