Minnetonka Emergency Business Fund

Minnetonka Emergency Business Fund is sponsored by City of Minnetonka. This fund offers one-time assistance to local businesses in Minnetonka that have experienced an emergency or unforeseen circumstances that threaten the business operation and jeopardize job retention for employees.

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gov/business/financing-assistance) * Business+ "Expand/Collapse subpages under Business") * Business Resources+ "Expand/Collapse subpages under Business Resources") * Elevate Hennepin & Open to Business Font Size:; "default font size")+; "larger font size")-; "smaller font size") Share & Bookmark; "Click to expand Share & Bookmark options")Share & Bookmark, Press Enter to show all options, press Tab go to next option * Facebook "Click to share with Facebook") * LinkedIn "Click to share with LinkedIn") * Twitter "Click to share with Twitter") * Reddit "Click to share with Reddit") The city offers several financial assistance programs for Minnetonka businesses.

Learn more about programs that can help you start, grow or support your business. Minnetonka Emergency Business Loan Fund Businesses are eligible to receive one-time forgivable assistance of $2,500 to address an emergency or unforeseen circumstance that disrupts the business operation. Funding is not to be used for general operating expenses.

A one-time forgivable emergency loan up to $2,500. All loan funds must be utilized within three months of a fully executed loan agreement. * Located within the City of Minnetonka and have a physical commercial property.

* A locally owned and operated business (including independently owned and operated franchises). * A for-profit business legally allowed or licensed to operate within the City of Minnetonka and legally registered with the Minnesota Secretary of State in good standing. * In compliance with city ordinances, codes and licensing and must not have any delinquent taxes, bills or other charges due to the city.

* Must have met with a business advisor or city staff to determine project need. City staff can provide recommendations for advisory services.

| * Situational marketing assistance (e.g., in response to construction project, road closure, detour, natural disaster, etc.) * Technical assistance (e.g., consulting, engineering, etc.) * Unplanned relocation expenses (if within Minnetonka) * Security updates * Inventory * Critical equipment repair * Operational systems repair | * Rent * Payroll expenses * Insurance costs * Taxes/Utilities * Other operating expenses/noncapital costs | For more information or how to apply, email Minnetonka's economic development teamor call 952-939-8200.

Minnetonka Commercial Code Compliance Loan Program Businesses are eligible to receive a low interest loan to address building issues such as improving safety, structural integrity, accessibility issues, or any other areas of concern as determined by Minnetonka city staff.

* Up to $25,000 (subject to credit requirements and program eligibility) * 2-percent fixed interest rate * Match amount: least 10 percent of the total project costs * Five years for loans less than $15,000 * 10 years for loans between $15,000 to $25,000 * There is no prepayment penalty Commercial properties must be: * Located within the City of Minnetonka or in the process of securing a location within Minnetonka.

* Addressing an active property maintenance corrective order issued by the city. * A for-profit business legally allowed or licensed to operate within the City of Minnetonka and legally registered with the Minnesota Secretary of State in good standing. * In compliance with city ordinances and licensing and must not have any delinquent taxes, bills or other charges due to the city.

### Eligible Improvements Repairs may improve safety, structural integrity, address accessibility issues or address any other areas of concern as determined by the city staff.

Examples of eligible projects include: * Screening elements (i.e. fencing, visible mechanical screening, visible trash enclosures) * Window and door repair or replacement * Signage connected to the building • Fire suppression or other related issue as requested by the city fire marshal * Building and health code related items * ANSI/NSF approved equipment upgrades with approval from the city building official * Parking lot improvements * Improving exterior or architectural barriers that restrict the mobility and accessibility of elderly or disabled persons to a premise * Installation of exterior security devices * Landscaping improvements Improvements not on this list but required for correction per city staff can be considered eligible for this program on a case-by-case basis.

Visit the Center for Energy and Environment for more information and to apply. Minnetonka SAC and REC Deferral Program Minnetonka’s Sewer Availability Charge (SAC) and Residential Equivalency Charge (REC) Deferral program, allows eligible businesses and property owners the ability to defer of up to 80 percent of SAC and REC charges. Businesses are eligible to participate if they’re determined to have 25 or fewer SAC/REC units.

For more information, email Minnetonka's economic development teamor call 952-939-8200. Minnetonka Fire Sprinkler Assistance The City of Minnetonka Fire Sprinkler Retrofit Program allows businesses to spread the cost of fire sprinkler installation over a 10-year period, rather than pay the entire cost up-front.

Additionally, 2018 federal tax reform legislation includes incentives that make it more affordable for small business owners to install fire sprinklers. Small businesses can deduct the expense of installing a fire sprinkler system – up to $1 million for each year of expense – on their federal taxes, and can also deduct interest received from any loan for this type of renovation.

For more information, email Minnetonka's economic development teamor call 952-939-8200. State and federal programs ### Emerging Entrepreneur Loan Program The Minnesota Emerging Entrepreneur Loan Program (ELP) supports the growth of businesses owned and operated by minorities, low-income individuals, women, veterans or persons with disabilities. These funds can be used for business start-up or expansion.

MNCAR offers a free commercial real estate listing map. The map features lease rates, broker contact information, property square footage and property brochures. ### Minnesota Investment Fund The Minnesota Investment Fund provides financing to help add new workers and retain high-quality jobs on a statewide basis.

The focus is on industrial, manufacturing and technology-related industries. The Job Creation Fund provides financial incentives to new and expanding businesses that meet certain job creation and capital investment targets.

### Minnesota Innovation Loans for Entrepreneurs (MILE) The Minnesota Innovation Loans for Entrepreneurs (MILE)program provides interest-free loans to early-stage businesses developing or producing high-tech products or services in Minnesota. Loans range from $20,000 to $50,000, require a 1:1 match and have a four-year term with no repayments in the first year.

The MN Supplier Match is an online searchable database of Minnesota suppliers to make it easy for buyers to find products. MN Supplier Match highlights Minnesota’s supply chain and increases business-to-business activity. ### Minnesota Foreign Trade Zone Foreign Trade Zonescan help U.S. companies compete globally to reduce, defer or eliminate duty payments and to make distribution easier and more profitable.

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