Twin Cities-Metro Certified Development

To stimulate private sector investment by providing funding for small business expansions in Minnesota and western Wisconsin through the utilization of the small business administration's 504 loan program. Businesses are eligible for the loans based on their purchase of fixed assets, primarily real estate, for their business use. The eligible businesses should retain and create at least one job for every $75,000 in sba guaranteed funds or meet a public policy goal as dictated by the sba. The organization had 79 loan approvals and 80 loan fundings for approximately $63.6 million during fiscal year 2022. It is anticipated that within two years of funding, 524 jobs will be created and/or retained as a result of these loans.