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CPED seeks comments on new small business program

View program guidelines (PDF, 92 KB)

View memo to neighborhoods (PDF, 34 KB)

The Citys Department of Community Planning and Economic Development (CPED) is seeking comments on a new loan program aimed at helping small businesses that may face challenges obtaining credit through traditional sources.

Through the Small Business Loan Guaranty Program, the City works in cooperation with lenders and the Minneapolis Consortium of Community Developers (MCCD) to provide additional loans and technical assistance to applicants that have been in business for at least 12 months. CPED may guarantee up to 33 percent of the lender’s loan to a maximum of $25,000.

The Minneapolis City Council is expected to consider the program in early 2006. Comments are welcome through Wednesday, Dec. 28 and should be submitted by email or in writing to:

Greg Davidson, Sr. Economic Development Specialist
City of Minneapolis
CPED
105 5th Ave. S.
Crown Roller Mill #200
Minneapolis, MN 55401-2534
greg.davidson@minneapolismn.gov

November 15, 2005

Published Nov 15, 2005

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