The City has updated it's Revolving Loan Program for 2020 to assist businesses in preserving operating cash. This program assists in financing equipment, construction, and remodeling projects. Businesses can apply for up to $149,999. Interest is fixed for the loan term.
Information is below:
Municipal Subsidy Policy:
The City of Waconia has established policy and guidelines setting forth criteria regarding the use of municipal subsidies, such as tax increment financing (TIF), tax abatement, and other business subsidies for private development projects within the city. Review the Municipal Subsidy Policy (PDF) and Application Materials (PDF).
Minnesota Investment Fund:
The State of Minnesota offers the Minnesota Investment Fund for businesses acquiring "fixed assets" (such as equipment, buildings, and land) and adding new workers as a result. The Minnesota Investment Fund program offers companies below-market financing. Virtually all types of businesses are eligible, excluding retail enterprises.