Financial Resources

The City of Coon Rapids offers a variety of financing options for projects that help achieve its development goals. These resources are administered by both the City’s Economic Development Authority (EDA) and outside sources. Please contact the City’s Community Development Department at (763)767-6430 for more information.

Tax Increment Financing/Tax Rebate Financing

The City considers use of Tax Increment Financing (TIF) and Tax Rebate Financing (TRF) for development projects that would not otherwise occur without public assistance. Use of these incentives is determined on a case-by-case basis, considering the City’s TIF/TRF Policies, specific project criteria, and demand on city services.

Twin Cities Community Capital Fund

The Twin Cities Community Capital Fund (TCCCF) is a nonprofit revolving loan fund that offers financing for:

  • Fixed assets, including land and building purchases
  • Building construction
  • Leasehold improvements and building renovations
  • Machinery and equipment purchases, renovation, and moving expenses
  • Working capital

TCCCF loans are made in partnership with local lenders and the Coon Rapids Economic Development Authority. By pooling resources, TCCCF can offer much larger loans than would be possible with limited local resources, greater gap-lending flexibility for financing local development projects, and significantly lower loan risk—all with the support and services of a professional fund manager and experienced loan officers.

For more information, contact the Twin Cities Community Capital Fund at (952)546-0949. More information, including loan applications and credit criteria can be found online at www.tcccf.org.

Central Minnesota Development Corporation

Central Minnesota Development Company (CMDC) is a private non-profit corporation authorized to provide SBA 504 loans throughout Minnesota. Its mission is to promote economic viability by cultivating a financing environment that allows small businesses to grow and prosper. To fulfill this mission, CMDC provides the following services to lenders and businesses:

  • SBA 504 Loans
  • SBA 7(a) Loan Packaging Assistance
  • SBA Low-Doc Packaging Assistance
  • SBA Pre-Qualification Loans
  • Guidance and Assistance in Developing Business Plans
  • Developing Business Banking Relationships

For more information, contact the Central Minnesota Development Company at (763) 784-3337 or online at www.cmdbusinessloans.com.