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Financing Resources

Minnesota Investment Fund

Overview

Funds are awarded to local units of government who provide loans to assist expanding businesses. Cities, counties, townships and recognized Indian tribal governments are eligible for this fund.

Before You Apply

Use this checklist to determine if your project may be eligible for MIF financing. You must meet ALL of the conditions on the checklist to be eligible to apply.

See the Answers to Frequently Asked Questions document for more information. 

Project Requirements

All projects must meet minimum criteria for private investment, number of jobs created or retained, and wages paid. Only one award per state fiscal year may be provided to a government unit.

At least 50 percent of total project costs must be privately financed through owner equity and other lending sources (most applications selected for funding have at least 70 percent private financing).

Prevailing Wage Requirements

Projects that receive $500,000 or more in MIF assistance are subject to prevailing wage requirements. See more about Prevailing Wage Requirements or review this Prevailing Wage Fact Sheet.

Jobs and Wages

All projects must meet minimum job and wage goals. For questions about how to determine wage levels, please refer to the Wage and Benefit Guidelines.

Terms and Interest

Terms are for a maximum of 20 years for real estate and a maximum of 10 years for machinery and equipment. Interest rates are negotiated.

Flood Recovery

MIF has flood-recovery funding to provide loans to businesses directly and adversely affected by flooding. MIF flood-recovery funds are awarded to local units of government, which use the funding to make loans to individual businesses. For more information, see our Flood-Recovery Financing section.

Category: MN State Programs

More MN State Programs

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The Minnesota 21st Century Fund makes loans or equity investments in innovative mineral, steel, or other industry processing, production, manufacturing, or technology projects located in the taconite relief tax area. The fund may also make grants to municipalities or counties for public infrastructure to suppor... Learn More
The Job Creation Fund provides financial incentives to new and expanding businesses that meet certain job creation and capital investment targets. Companies deemed eligible to participate may receive up to $1 million for creating or retaining high-paying jobs and for constructing or renovating facilities or makin... Learn More
Overview Our Tourism Business Septic Tank Replacement Program makes low-interest financing available to existing tourism-related businesses that provide overnight lodging and need to replace a failed septic system. Participation loans in cooperation with financial institutions can be made for up to 50 percent of the total cos... Learn More
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Free Professional Consultation!

Todd County Development Corporation (TCDC) is designated as a North Central Regional Small Business Development Center (SBDC) Outreach Office, providing "FREE" business technical services to pre-venture and existing businesses.