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<br />'E~?ntJ(P <br /> <br />Rl\SBYIbbE <br /> <br />Community Development Department <br />2660 Civic Center Drive Roseville MN 55113 <br />phone: 651.490.2279 fax: 651.490.2931 <br /> <br />~ <br /> <br />Small Business Revolving Loan Fund <br />Program Guidelines <br />Adopted January 25, 1999 <br /> <br />Program Purpose: <br /> <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 <br />small businesses in Roseville. <br /> <br />The goal of the program is to provide assistance in the growth and stabilization of small <br />businesses in Roseville, thereby stabilizing the tax base, improving the aesthetics of property <br />and increasing the prosperity of the business community. <br /> <br />Loan Structure: <br /> <br />City of Roseville minimum loan amount = $2,500 <br />City of Roseville maximum loan amount = $25,000 <br /> <br />. The City's portion of the loan would be at 2% fixed interest rate. The participating bank <br />would be required to, at a minimum, match the City loan amount at commercial lending <br />rates not to exceed 2.5 percent above prime. <br /> <br />. The term of the City loan would be at the recommendation of the participating bank and <br />would not exceed 10 years. <br /> <br />Eligible Improvements: <br /> <br />. Repair storefronts, windows, doors, decorative applications, exterior finishes and <br />lighting. <br /> <br />. Interior improvements that would result in the growth and expansion of the business <br />(tenant improvement would be evaluated on a case-by-case basis.) <br /> <br />. New or upgraded landscaping, sidewalks and street trees. <br />