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For more information call 763.717.4029 or <br />visit www.moundsviewmn.org <br /> CITY OF MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY 2401 MOUNDS VIEW BOULEVARD, MN 55112 763.717.4029 <br />Mounds View EDA FORGIVABLE LOAN PROGRAM <br />0% New Business Commercial Loan <br />Interest Rate: <br />0% APR. <br />Loan Amount: <br />Loan amounts up to $5,000 per calendar year, up <br />to $15,000 total. <br />• No down payment required. <br />• No monthly payments. <br />Loan Term: <br />Forgivable after 1 year if business is not sold. <br />Eligible Properties: <br />Commercial properties located within the <br />boundaries of the City of Mounds View. <br />Eligible Improvements: <br />Eligible Improvements include physical <br />improvements to the business’s commercial space, <br />including, but not limited to, façade improvements, <br />commercial signage, parking lots, sidewalks, <br />permanent landscaping, siding, roofing, windows/ <br />doors or other permanent physical exterior, or <br />for equipment upgrades or purchase for other <br />capital materials that are intended to sustain the <br />business in the long-term, including but not limited <br />to: HVAC, solar, plumbing, electrical, lighting, <br />insulation, flooring, remodeling or other permanent <br />physical interior improvements. <br />Borrowers: <br />Eligible borrowers must have at least one full- <br />time employee or two part-time employees. All <br />borrowers must be a registered business with <br />the MN Secretary of State. The borrower(s) may own <br />or lease the property. <br />Eligible Use of Funds: <br />For do-it-yourself projects, a materials list <br />including prices is required. The cost for labor <br />and equipment purchase may not be included <br />in the loan. <br />Bid: <br />One bid required from a properly licensed <br />contractor. <br />Item 01, Attachment 1