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COMMUNITY DEVELOPMENT DEPARTMENT <br /> 2660 Civic Center Drive Roseville MN 55113 <br /> phone: 657.490.2279 fax: 651.490.2931 <br /> SMALL BUSINESS REVOLVING LOAN FUND <br /> PROGRAM GUIDELINES <br /> Adopted January 25, 1999 <br /> Program Purpose: <br /> Partner with the local banking community to provide low interest loan packages as an <br /> encouragement to make improvements and provide additional investment into existing small <br /> businesses in Roseville. <br /> The goal of the program is to provide assistance in the growth and stabilization of small businesses <br /> in Roseville,thereby stabilizing the tax base,improving the aesthetics of property and increasing the <br /> prosperity of the business community. <br /> Loan Structure: <br /> City of Roseville minimum loan amount _$2,500 <br /> City of Roseville maximum Ioan amount=$25,U00 <br /> t The City's portion of the loan would be at 2%fixed interest rate. The participating bank would <br /> be required to,at a minimum,match the City loan amount at commercial lending rates not to <br /> exceed 2.5 percent above prime. <br /> ♦ The term of the City loan would be at the recommendation of the participating bank and would <br /> not exceed 10 years. <br /> Eligible Improvements: <br /> ♦ Repair storefronts,windows,doors,decorative applications,exterior finishes and lighting. <br /> ♦ Intexior improvements that would result in the growth and expansion of the business(tenant <br /> improvement would be evaluated on acase-by-case basis.) <br /> ♦ New or upgraded landscaping,sidewalks and street trees. <br /> ♦ Upgrade or replace Business Signage. <br />