Back to Grants
MN
Duluth 1200 Fund Build Forward Duluth Loan Program
The Build Forward Duluth Loan Program provides gap financing up to $100,000 for Duluth businesses and childcare centers buying or improving existing real estate.
About this program
The Build Forward Duluth Loan Program, administered by the Duluth 1200 Fund, provides gap financing for Duluth businesses and childcare centers citywide. Loans are intended to help purchase and improve existing real estate buildings that will house a new or expanding business, including related equipment expenses needed to sustain the business, while complementing private lender financing and owner equity.
Eligibility
Businesses and childcare centers located in or expanding within Duluth city limits may apply for eligible building purchase, improvement, expansion, and equipment projects.
Requirements
- Project must be located within Duluth city limits.
- Loan proceeds must support purchase or improvements of an existing real estate building that will house the business or childcare center.
- Another financial institution must match or exceed the requested loan amount in addition to owner equity.