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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.

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"Living in the Cities for four years made me appreciate the kind of lifestyle the rural area has to offer.  It is a wonderful place to raise a family, and people are not too busy to wave when passing by or just stop to visit.  I felt a strong desire to bring a form of quality of healthcare back to this area."

Dr. Kyle Pankonin, Lamberton

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