Crow Wing Power and Light in Partnership with Great River Energy
Crow Wing Power is locally owned and operated, and a part of a group of about 600 electric Touchstone Energy cooperatives throughout the nation, dedicated to integrity, innovation, accountability, and commitment to community.
Business Finance Program/Economic Development Revolving Loan Fund
Loan Amount
$5,000-$100,000
Use of Proceeds
Land and building acquisition, improvements, construction, or renovation, machinery and equipment, inventory purchase, and working capital (only as part of the total loan package). Local Development Bond purchase (TIF, GO).
Term of Loan
10 year maximum
Rate of Interest
Same as offered by other participating lenders(s)
% of Financing Available
up to 50%
Down Payment (Equity)
Variable
Typical Structure
Variable
How Long Does it Take
3-5 weeks
Collateral
1st or 2nd Mortgage
Personal Guarantees
Yes
Eligible Businesses
New business startups and expansions within the Cooperative's service area
Ineligible Businesses
Conventional agriculture production and debt financing
Job Creation Criteria
None
Incentives
"Gap" financing
Fees
No fee.
For more information on this program, contact BLADC.
