Facades - Build-out - Equipment Purchases - Construction

The Brooklyn Center Economic Development Authority created this Revolving Loan Program to establish a low-interest loan program to provide the capability and incentive for property owners and tenants of new and existing businesses within the City to upgrade the appearance, structural condition, and/or operating efficiency of their places of business, thereby improving their marketability and retaining and expanding job opportunities within the City.

Loan Summary

• Loan amounts of $5,000 to $100,000
• Project must be for a “for-profit” business located in Brooklyn Center
• Eligible loans must be used for fixed assets, including land, building, machinery and equipment (no working capital)
• Loan interest rate is fixed at 2% below prime
• Loan terms are equal with the life of the asset, or ten years
• A minimum 10% equity investment of total project costs is required

Small business micro loan

These loans leverage other financing programs as well as private financing provided by the commercial banking community.

• Loan amounts up to $50,000
• Project must be for a “for-profit” business located in Brooklyn Park
• Eligible loans must be used for working capital, inventory, equipment, and general operations
• Loan interest rate is fixed at 10%
• Loan repayment terms generally range from 3 to 5 years

The city’s Sewer Availability Charge payment deferral program allows eligible businesses and property owners to pay the costs of up to 80%  of their SAC units over 5 years at a fixed interest rate

For more information, or to apply, contact the Economic Development Coordinator

This program allows eligible new or expanding businesses, at the time of permit issuance, to receive a reduction of up to three SAC units on the total number of units charged by the Metropolitan Council. 

For more information, or to apply, contact Community Development Department at 763-569-3300.

 To apply, complete this application and add it to your permit application.

Application

Available through the State of Minnesota, the Minnesota Investment Fund provides low interest loans to help add new workers and retain high-quality jobs. The program focuses on industrial, manufacturing, and technology-related industries to increase the local and state tax base and improve economic vitality statewide.

Projects must meet minimum criteria for private investment, number of jobs created or retained, and wages paid. At least 50 percent of total project costs must be privately financed through owner equity and other lending sources. There is a maximum of $500,000 per project.

Terms are up to 20 years for real estate and up to 10 years for machinery and equipment. Interest rates are negotiated.

Visit the Minnesota Department of Employment and Economic Development's Minnesota Investment Fund site for more information.

The job creation fund provides financial incentives to new and expanding businesses that meet certain job creation and capital investment targets.

Companies deemed eligible to participate may receive up to $1 to $2 million for creating or retaining high paying jobs and for constructing or renovating facilities or making other property improvements.

Visit Minnesota Department of Employment and Economic Development

Visit the Minnesota Department of Employment and  Economic Development to explore a wide variety of financing programs for your business.

The City of Brooklyn Center has options to help support Development Projects.  Please see the public subsidy application and policy below.

 Policy

Application

Is your business or organization ready to make a strategic investment into talent and workforce development? Do you want to support local young people achieve success? Then explore the opportunity of hosting summer interns with BrookLynk.

Brooklynk is a program supported by the cities of Brooklyn Center and Brooklyn Park. The program connects local young people with area businesses to provide hands-on mentorship, training, and pathways to future employment. 

Learn more about BrookLynk and become a Brooklynk employer.

Provides grants of up to $400,000 to educational Institutions that partner with businesses to develop new-job training or retraining for existing employees.

Minnesota Jobs Skills Partnership

Provides grants of up to $400,000 to educational institutions or nonprofit organizations that partner with businesses to provide training, new jobs and career paths for low income people.

Minnesota Job Skills Pathways

The Minnesota Department of Employment and Economic Development offers a variety of resources to help you connect with the right workforce. 

Finding Workers

Workforce Assistance