The Economic Development Loan Program has three components:
Industrial Development Loans are made to larger projects, and are primarily targeted to manufacturing businesses.
Commercial Enterprise Loans are made to larger retail and service businesses. Both of these loans have a 4.0% rate, and can be used primarily for asset expenses, such as land or building acquisition, building construction, or purchases of machinery. The CDA also has a loan program for small and start-up businesses.
The Micro-Loan Program has a maximum loan amount of $15,000, and may be used for a greater number of purposes. Businesses should contact the CDA to determine if these, or another program may be suited to their project.
Owners of commercial buildings may be eligible for a Facade Loan to make improvements to the exterior of their buildings. This program is primarily targeted to the downtown district, although any building may be eligible. Certain design guidelines may apply.