Sba 504 Loan Program

SBA 504 Loan Program

Category: Business Finance Options

Prairieland EDC can potentially finance a total of 90 percent of the project between the bank and the SBA (10 percent equity requirement). The SBA offers a 10- and 20-year term with a fixed rate of approximately 4.26 percent for October 2016. We work with the Prairieland Economic. Development Corporation, Slayton, MN on SBA 504 loans.

"Our approach is that the entity is the expert in the subject matter, and we’re providing expertise to help them be successful with the grant application process."

Projections indicate that Minnesota may have 400,000 unfilled jobs by 2024 due to a wave of Baby Boomer retirements and a shortage of skilled workers to take their place. While two-thirds of these jobs require post secondary education or training, a four-year college degree isn't always necessary.

Thanks to a generous donation from philanthropist Orrin Estebo, the Redwood Falls Area School District will have the tools to proactively address the imminent workforce skills gap to ensure talent needs are met in areas like manufacturing, construction and healthcare.

A&W Furniture and Laney Lu's Boutique Stands Firm Despite COVID-19

_{COVID-19 brought many challenges to people and businesses alike during the past few months. While some stores have been forced to permanently close their doors, many are able to survive, and even thrive, in the face of this adversity. A&W Furniture is one store that remains stronger than ever.}

The Redwood Area Communities Foundation: A Core Supporter of the Community

The Redwood Area Communities Foundation is an IRS 501(c)(3) non-profit entity organized for the welfare and benefit of Redwood County residents and organizations. The RACF’s focus is on those who live or have their principal place of business in Redwood County or within a 10 mile radius. The RACF was established in 1988.

Redwood Area Communities Foundation works hand in hand with the Redwood Area Development Corporation to improve the quality of life for local communities and their residents, to benefit public school districts and any charitable organizations operating in Redwood County and to provide scholarships and loans to students living here.

Schult Homes has been a long standing member of the Redwood community and the Redwood Area Development Corporation. The company opened its doors in the area in 1974, and has been building beautiful homes with superior workmanship in the region since. Scott Thomas, Facility General Manager of Schult Homes, explains how being located in Redwood Falls has positively impacted the business and the area.