Fax: 507-764-3882
Upcoming EDA Meetings
2nd Wednesday of each month
at 5:00 p.m. at City Hall.
The Sherburn EDA strives to make Sherburn the right place for you to start a business.
We understand the capital costs there are when a new business starts, and that is why we offer programs to assist you with that.
City of Sherburn EDA Programs
Revolving Loan Fund Program
The Revolving Loan Fund Program is aimed at providing a financial incentive to business property owners with completing exterior and interior improvements to their buildings, including additions. The loan program is structured to recognize the financing needs for improvements.
This public fund provides a source of financing at a low-interest rate that can be used in conjunction with other private lender financing and/ or owner(s) contributions. The loan program can be used to pay 80% of the project cost between $5,000 to $10,000.
Each application will be reviewed, and decisions to fund individual loan requests will be based on the financial feasibility of the project and repayment capacity of the applicant.
Rehabilitation Improvement Program
Information.
Advertising Subsidy
The Advertising Subsidy is available for new businesses or new business owners to assist with new signage or advertising up to $300.
Loan Interest Buy-down Program
Brief description. Contact for more information.
Additional Resources
Margin County EDA
Martin County Economic Development Authority strives to facilitate, support, and encourage entrepreneurs, start-ups, and existing business owners with their ideas working from the bottom up to grow and sustain our vibrant community for the future.
Region Nine Development Commission
Region Nine Development Commission takes great pride in working with and on behalf of counties, cities, townships and schools throughout south central Minnesota. Since 1972, being a partner for progress has led to the development of programs and identification of solutions in areas of aging, economic development and business development, healthy communities, transportation, community development, and leveraging regional resources.
Rural Minnesota Energy Board
PACE (Property Assessed Clean Energy ) is a financing tool used to assist commercial and industrial businesses (including agri-business) with improvements that substantially increase energy efficiency. PACE allows businesses to make these fixture improvements without the up-front capital outlay. Costs for the improvements are paid back through a special assessment on their taxes. The increase in property taxes is offset by the decrease in energy costs so that the business sees no change in the bottom line.
Southern MN Initiative Foundation
The foundation provides financial assists in the form of grants and loans, management and technical assistance, convening, and programming.