- Community Development
- Incentives & Financing
Incentives & Financing
Learn about the tax increment financing program and the fire suppression grant program.
Department of Employment & Economic Development
Access information about the State of Minnesota's Department of Employment and Economic Development, and learn about the programs it offers.
Electric Utility Provider Incentives
See information about Connexus Energy and XCEL Energy.
See a listing of financial institutions in Blaine.
Find and filter through Venture Capital funds using Launch Minnesota’s Database.
Disadvantaged Business Enterprise Program
The DBE program is a project for increasing the participation of women- and minority-owned businesses in the award of federally assisted contracts.
Underutilized Business Program
The Metropolitan Council Underutilized Business Program (MCUB) is designed to engage and encourage the use of underutilized Minnesota-based small businesses for the Council's projects and procurements.
- Disadvantaged Business Enterprise Program
In Minnesota, beginning June 20, 2016, eligible businesses can use a crowdfunding exemption from securities registration to raise investment funds by selling securities to Minnesota residents. The exemption is known as the “MNvest Securities Registration Exemption”—or, simply, “MNvest.”
Other Financial Resources
Learn about other financial resources that are offered in Blaine.
SBA Financing Programs
The 7(a) Loan Program, SBA’s most common loan program, includes financial help for small businesses with special requirements. This is the best option when real estate is part of a business purchase, but it can also be used for: • Short- and long-term working capital • Refinance current business debt • Purchase furniture, fixtures, and supplies The maximum loan amount for a 7(a) loan is $5 million. Key eligibility factors are based on what the business does to receive its income, its credit history, and where the business operates. Your lender will help you figure out which type of loan is best suited for your needs.
The CDC/504 Loan Program provides long-term, fixed rate financing for major fixed assets that promote business growth and job creation. 504 loans are available through Certified Development Companies (CDCs), SBA's community-based partners who regulate nonprofits and promote economic development within their communities. CDCs are certified and regulated by the SBA. The maximum loan amount for a 504 loan is $5 million. For certain energy projects, the borrower can receive a 504 loan for up to $5.5 million per project, for up to three projects not to exceed $16.5 million total.
The microloan program provides loans up to $50,000 to help small businesses and certain not-for-profit childcare centers start up and expand. The average microloan is about $13,000. SBA provides funds to specially designated intermediary lenders, which are nonprofit community-based organizations with experience in lending as well as management and technical assistance. These intermediaries administer the Microloan program for eligible borrowers.
- Find an SBA Lender
- 7(a) Loans
Job Creation and Workforce Training
The Minnesota Jobs Skills Partnership (MJSP) works with businesses, educational institutions and nonprofit organizations to train or retrain workers, expand work opportunities and keep high-quality jobs in the state. The goal is to target short-term training for full-time employment in the growth sectors of the state’s economy.
Minnesota State Investment Fund
Funds are awarded to local units of government who provide loans to assist expanding businesses. Cities, counties, townships, certain development authorities and recognized Indian tribal governments are eligible for this fund. Contact Ruth Tucker at 763-717-2778 if you are interested in utilizing this program.
- Minnesota Innovation Loans for Entrepreneurs
Launch Minnesota Grant
Launch Minnesota is a statewide collaborative effort to accelerate the growth of startups and amplify Minnesota as a national leader in innovation. The resources will focus on innovative scalable startups. Visit mn.gov/launchmn to learn more and see the grant recipients to date.
Emerging Entrepreneur Loan Program
The Minnesota Emerging Entrepreneur Loan Program (ELP) supports the growth of businesses owned and operated by minorities, low-income persons, women, veterans and/or persons with disabilities. DEED provides grant funds to a network of nonprofit lenders which use these funds for loans to startup and expanding businesses throughout the state.
Indian Business Loan Program
Applicants must be enrolled members of a federally recognized Minnesota-based band or tribe. Businesses must be wholly owned by an enrolled member and can be located anywhere in the state, although the bulk of the loans are made to businesses on a reservation.
Reservist and Veteran Business loan Program
These loans are for existing small businesses that have an essential employee called to active service in the military reserves for 180 days or longer, causing a substantial economic injury to the business due to the employee's absence.
SBIR-STTR Federal Funding for High-Tech Companies
MNSBIR, Inc. helps startups and small businesses access millions from America’s Seed Fund – the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. America’s Seed Fund awards non-dilutive funding to develop your technology and chart a path toward commercialization. The federal government invests in your solution and gives you the freedom to run your business according to your vision.
- Tax Credits
MN STEP Grant
The STEP program provides financial and technical assistance to qualifying Minnesota small businesses with an active interest in exporting products or services to foreign markets.
- Job Creation and Workforce Training