Lowry Hill East Commercial Loan
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About the Loan
- No maximum income limit.
- 3% APR.
- Loan amounts from $2,500 to $30,000.
- Terms up to 10 years.
- Commercial businesses within the Lowry Hill East, Whittier, East Isles, South Uptown, and Lowry Hill neighborhoods.
- Loan approval is subject to credit and program guidelines.
Subject to change at any time. APR based on loan amount of $30,000.
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Based on current rates. Qualifications apply.
- 20% match required.
- Fixed interest rate.
- Improvements to correct code violations and OSHA / ADA improvements.
- Additional improvements include: awnings, windows, doors, sidewalks, energy efficiency improvements, insulation, lighting, tuck pointing.
- 2 bids are required from a qualified licensed contractor if the project exceeds $15,000.
- All projects must receive prior approval from Lowry Hill East Neighborhood Association.
The current loan terms and conditions stated, including interest rates, do not constitute a commitment to lend or an offer to enter into an agreement, and that such an offer may only be made pursuant to Minnesota Statutes, Section 47.206(3) and (4).