Minneapolis Two Percent Loan Program
Minneapolis provides two-percent small business loans up to $75,000 citywide and up to $125,000 for qualified businesses in Great Streets areas.
About this program
The Minneapolis Two Percent Loan Program helps small neighborhood businesses finance building improvements and equipment purchases. The City provides low-interest funds through participating private lenders, and the lender must match the City loan with at least an equal amount of private financing, creating blended financing for eligible projects anywhere in Minneapolis and larger amounts for eligible small businesses in Great Streets designated areas.
Eligibility
For-profit and nonprofit small businesses located in Minneapolis may apply with a participating private lender for eligible building improvement or equipment purchase projects.
Requirements
- Business must be located in Minneapolis.
- Loan proceeds must support eligible building improvements or equipment purchases.
- Work or purchases must start only after City funding approval.