Two Percent Loans
Small business owners can use a Two Percent Loan for building improvements and equipment purchases.
Eligibility and use
- Your business must be located within Minneapolis city limits.
- Business use must comply with Minneapolis zoning ordinances.
- Building improvements paid for by the loan must:
- Use contractors licensed in Minneapolis
- Follow all Minneapolis permitting requirements and city codes
- We only fund work that is started after we approve funding.
- If you move the business outside of the City the loan becomes due. You need to repay it in full.
Terms and conditions
- Be an acceptable credit risk
- Repay the funds
Your private lender
- Sets their finance terms
- Charges a fee; amount varies by lender
- Charges a one percent origination fee ($150 minimum) due at closing
- Charges two percent fixed interest on loans or a two percent rate of return on alternative financing
- Loan term must be equal to or less than the private lender term, with a maximum of 10 years
Complete our common application for small business financing.