The East Central Regional Development Commission (ECRDC) small business Revolving Loan Fund (RLF) has loan dollars available to assist new, expanding and relocating businesses in Chisago, Isanti, Kanabec, Mille Lacs & Pine Counties.
We can provide “gap” financing, often in conjunction with a bank or credit union, to provide credit to good projects that may not otherwise happen without our assistance.
A few notes:
- Our average loan is around $50,000 and we have a maximum loan size of $100,000.
- Interest is generally market rate, often mirroring the bank / credit union.
- For larger projects we have a network of other gap lenders that we can bring into the financing package.
- All loans are secured and require personal guarantees.
For more information on the ECRDC RLF & an application, please visit the RLF page on our website:https://ecrdc.org/rlf/
We’d be happy to chat with you to discuss your project and get the ball rolling. You can email me at:Jordan.zeller@ecrdc.org or call me at (320) 679-4065 #29 to get things rolling.
Thanks!
Jordan
Jordan Zeller | Economic Developer
Office: 320/679.4065, ext 29