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Business Development Fund. <br /> (BDF) <br /> "...to provide public financial support for growth and redevelopment in <br /> manufacturing, industrial and distribution sectors of the Minneapolis economy." <br /> Who's Eligible: Any owner,business or Current Budget $400,000 <br /> developer within the City or planning to <br /> locate in Minneapolis. <br /> Application Procedure: Contact the Estimated Annual Production: Loan <br /> MCDA Business Finance Department to amounts limited to $75,000: estimated . <br /> 11111 riiscuss and review your project. that 6-8 projects assisted each year. <br /> Contact Person: Bob Lind, 673-5068, Business Finance Department <br /> Program Summary: The Business Development Fund (BDF) is a leveraged loan <br /> program to further economic development by encouraging growth in the <br /> manufacturing and industrial sectors of the economy. BDF loans will be in cooperation <br /> with other public/private lending, generally subordinated to the other lender financing. <br /> The maximum loan amount is $75,000; terms are generally 5-10 years with negotiated <br /> interest rates. Loans may be forgiven based on job creation. <br /> • <br /> - 36 - <br />