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<br /> <br /> <br />ECONOMIC DEVELOPMENT AUTHORITY (EDA) <br />BUSINESS IMPROVEMENT PARTNERSHIP LOAN PROGRAM <br /> <br />$25,000 LOANS AT 2% FOR EXISTING MOUNDS VIEW BUSINESSES <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />A participating bank and the City of Mounds View <br />Economic Development Authority (EDA) must approve all applications. <br />PROGRAM PURPOSE <br />The Mounds View Business Improvement <br />Partnership Program was established to partner <br />with the local business community by providing <br />2% interest loans for exterior and interior <br />improvements. <br /> <br />HOW THE PROGRAM WORKS <br />The Mounds View Economic Development <br />Authority, in partnership with local banks, will <br />provide improvement loans to existing Mounds <br />View businesses at a minimum of $10,000 and a <br />maximum of $50,000 (the most the EDA itself <br />would loan is $25,000). The EDA participates in <br />the program by providing ½ the loan amount at a <br />2% interest rate. The loan is non-assumable. <br /> <br />ELIGIBILITY REQUIREMENTS <br /> Existing Mounds View business for two years <br /> Qualified small business and credit history <br /> Loan must be used to improve the interior or <br />exterior of existing facility <br /> Interior and exterior improvements must <br />conform to current zoning ordinances, building <br />codes, and other applicable city ordinances <br /> Owner or officer of the business must be loan <br />applicant <br />QUALIFIED IMPROVEMENTS <br /> Repair storefront entrances, windows, <br />doors and other decorative applications <br /> Upgrade interior design and configuration <br />to enhance business <br /> Paint, clean, or stain interior and exterior <br />of building <br /> Upgrade or replace existing business sign <br /> New or upgraded landscaping to improve <br />appearance of facility <br /> Parking lot reconfiguration or repair <br /> Required storm water discharge <br />improvements <br /> Upgrade facility to comply with American <br />with Disabilities Act requirements <br /> <br />HOW TO APPLY <br />Contact Economic Development Specialist <br />Heidi Steinmetz at 763-717-4029 or <br />heidi.steinmetz@ci.mounds-view.mn.us <br />for an application. <br /> <br />