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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 />All applications must be approved by a participating bank <br />and the City of Mounds View Economic Development Authority (EDA). <br /> <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 ba nks, will <br />provide improvement loans to new and existing <br />Mounds View businesses at a minimum of <br />$10,000 and a maximum of $50,000 (the most <br />the EDA itself would loan is $25,000). The EDA <br />participates in the program by providing ½ the <br />loan amount at a 2% interest rate. The loan is <br />non-assumable. <br /> <br />ELIGIBILITY REQUIREMENTS <br /> Property must be located in Mounds View <br /> Existing 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 />