Overview

Business Revolving Loan Fund Program

Communities Available: All Scott County, MN Communities

The Scott County Community Development Agency (CDA) serves the people and businesses in Scott County. The CDA’s mission is to invest in possibilities to live and work in Scott County – the creation of a Revolving Loan Fund (RLF) for local businesses supports this mission by providing opportunities for current and prospective businesses to develop and expand within the County.

What is a Revolving Loan Fund?
A Revolving Loan Fund is a widely used financing tool that provides gap-financing measures for developing and expanding small businesses that cannot obtain financing through traditional sources. It is a self-replenishing pool of funds, utilizing interest and principal payments on prior loans to issue new loans and cover program costs.

Program Purpose
Scott County’s goal is to have enough jobs for 50% of the County’s residents by 2030. The RLF is another extension of our efforts to support this goal by assisting with development and expansion initiatives for current and prospective businesses in Scott County. These efforts, in turn, will provide additional employment opportunities within the County. Additionally, the match requirements required by the RLF will leverage additional private investment toward those goals. The CDA has partnered with NextStage to administer the RLF, based on their expertise and experience in evaluating potential loans for businesses and administering approved loans.

See the complete program details here.

Facade Improvements and Revolving Loans

Communities Available: Belle Plaine, Jordan, New Prague

Some Scott County communities offer revolving loan funds, primarily to help with projects such as facades and building improvements, partnering with local small businesses to upgrade the appearance of their places of business, thereby improving their marketability and promoting redevelopment of existing business properties within the city.

Each city has its own contact, listed below:

Belle Plaine
Cynthia Smith-Strack, cynthias@ci.belleplaine.mn.us, or 952-873-5553

Jordan
Tom Nikunen at TNikunen@jordanmn.gov, or 952-492-2535

New Prague
Ken Ondich, kondich@ci.new-prague.mn.us, or 952-758-4401