Elk River Revolving Loan Fund

  • Agency: Elk River
  • Phone: 763-635-1042

Fixed assets including land and building purchase, building construction, leasehold improvements and renovations; acquisition, renovation, or moving machinery and equipment; and working capital loans secured with fixed repayment schedules.

Real Estate - up to 20 years; machinery, equipment up to 10 years.1.75% loan origination fee, 0.5% loan underwriting fee, all other legal and other loan closing costs.Rates determined by local jurisdiction.

Interest Type

Interest TypeAmount Eligibility/Requirements
Fixed, AdjustableUp to $750,000A financial institution must be a participant in the project financing. Other criteria set by local jurisdictions.