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01-29-1998
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01-29-1998
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8/8/2018 5:29:06 AM
Creation date
8/8/2018 5:28:03 AM
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MV EDC
EDC Document Type
Council Packets
Date
1/29/1998
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City of Mounds View <br /> Business Loan Program <br /> Goal of Program: <br /> Provide business loans for exterior and interior improvements to assist existing <br /> businesses thrive and prosper and improve the aesthetics of the commercial, <br /> industrial and retail sectors of the community. <br /> Eligibility Requirements: <br /> Exiting Mounds View Business - 2 Years Minimum <br /> Qualified small business <br /> Qualified Credit History <br /> Loan must be used to improve the interior or exterior of existing facility. <br /> Interior and exterior improvements must conform to current zoning and City building <br /> codes and ordinances. <br /> Owner or officer of business must be the loan applicant. <br /> Qualified Improvements: <br /> • Repair storefront entrances, windows, doors, decorative applications, <br /> etc. <br /> Upgrade interior design and configuration to enhance business. <br /> Paint, clean or stain interior and exterior of building. <br /> Upgrade or replace existing business sign. <br /> New or upgraded landscaping to improve aesthetics of facility. <br /> Parking lot reconfiguration or repair. <br /> Required stormwater discharge improvements. <br /> Upgrade facility to comply with American with Disabilities Act. <br /> Note: The improvements themselves may or may not qualify as collateral for the <br /> loan. <br /> Term of Loans: <br /> Flexible terms dependent upon use of loan funds. <br /> Loan is non-assumable. <br /> Maximum loan $50,000. <br /> Minimum loan $10,000. <br /> • <br />
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