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City of Mounds View <br />Business Loan Program <br />Draft 1\26\95 <br />Goals of Program: <br />Q To provide a matching business loan with a participating bank for exterior and interior <br />improvements. <br />Q To provide a loan program that is more attractive and marketable than a conventional <br />bank loan. <br />Q To provide a program geared to assist existing businesses thrive and prosper in the City <br />of Mounds View. <br />Q To provide a program to improve the aesthetics of the commercial, industrial and retail <br />sectors of the community. <br />Eligibility Requirements: <br />Q Exiting Mounds View Business - 2 Years Minimum <br />C✓1 Qualified small business <br />Q Qualified Credit History <br />Regular full loan request package required and will need to meet participating <br />underwriting guide(ines. <br />Q Loan must be used to improve the interior or exterior of existing faci(ity. <br />Q lnterior and exterior improvements must conform to current zoning and City buifding <br />codes and ordinances. <br />Q Owner or officer of business must be the loan applicant. <br />Qualified Improvements: <br />Q Repair storefront entrances, windows, doors, decorative applications, etc. <br />Q Upgrade interior design and configuration to enhance business. <br />Q Paint, clean or stain interior and exterior of building. <br />� Upgrade or replace existing business sign. <br />L�1 New or upgraded landscaping to improve aesthetics of facility. <br />0 Parking lot reconfiguration or repair. <br />0 Required stormwater discharge improvements. <br />0 Upgrade facility to comply with American with Disabilities Act. <br />Note: The improvements themselves may or may not qualify as colfateral for the <br />loan. <br />