City of Detroit Lakes Economic Development - Loans and Funds


Economic Development Funds Available in Detroit Lakes
Funding Source Total Fund Amount Amount of Funds Available
General Funds
Detroit Lakes Development Authority Revolving Loan Fund (RLF) $1,700,000 $240,000
Detroit Lakes Loan Fund D/A/WCI $240,000 $50,000
Interest Reduction Revolving Loan Fund $1,000,000 $100,000
Industrial Development Corporation Loan Fund $400,000 $270,000
Public Utilities Economic Development Fund, Grant & Loans $150,000 $500,000
IRP - Funds $500,000 $50,000
State & Regional Funds
West Central Minnesota Initiative Fund ------ $100,000 / Business
State Economic recover Fund ------ $250,000 / 500,000 Per Business
  
Loan and Fund Resources
Midwest Minnesota Community Development Corporation
  • Revolving Loan Fund
  • Loan Guarantees
Minnesota Agricultural and Economic Development Board
  • Loans
  • Loan Guarantees
Economic Development Administration
  • Loan Guarantees
Small Business Administration
  • Loans
  • Loan Guarantees
Rural Development
  • Loans
Minnesota Department of Trade & Economic Development
  • Small Cities Economic Development
  • Small Business Development Loans
  • SBA-504
  • Economic Recovery Fund
     

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