Finance & Loan Programs
The City of Minneapolis has a number of lending and grant opportunities available for local businesses through the Community Planning & Economic Development Department.
CPED offers a wide array of financing programs for Minneapolis businesses as well as staff assistance in selecting the appropriate program. Popular programs are listed below:
- Great Streets Gap Financing is available for real estate development and development acquisition for transformative commercial development projects located on designated commercial corridors, nodes, and LRT station areas.
- Livable Communities Demonstration Account Grants is a competitive grant program offered by the Met Council that provides funding for assembling land and installing public infrastructure to help development and redevelopment projects that link housing, jobs and services.
- Bank Qualified Bank Direct Loans are cost-effective tax-exempt loans for capital projects in 501 (c) organizations for projects in the $1 million to $2 million range.
- Business Development Fund Loans assist with redevelopment projects that have a potential for the creation of jobs.
- Two-Percent Loans support small Minneapolis businesses with equipment and building improvements.
- PACE allows property owners to borrow money from newly established municipal financing districts to finance energy retrofits (efficiency and renewable energy measures) and repay the loan through an annual special tax on their property bill.