Community Business Partnership Loan Program
This is a revolving loan fund that is made available to commercial businesses located in the City of Aitkin. Loans are granted at 0% interest for up to seven years. The maximum loan amount is $10,000. No owner match is required. A Promissory Note and Personal Guaranty are required as security for the loan.
Eligible improvements include exterior improvements, correction of code violations / code updates, roof repairs, building renovations and/or expansion, energy efficient upgrades, purchase of capital equipment. Funds must be spent utilizing local contractors (Aitkin County). An exception will be made for capital equipment purchases which will require the use of local contractors whenever possible.
Property Revitalization Program
This program will remove structures from the community that pose concerns to the residents or the community. Buildings of interest are those which, by reason of dilapidation, obsolescence, overcrowding, faulty arrangement or design, lack of ventilation, light, and sanitary facilities, excessive land coverage, deleterious land use, obsolete layout, or any combination of these or other factors, are detrimental to the safety, health, morals, or welfare of the community.
Storefront Renovation Revolving Loan Fund
This is a revolving loan fund that is made available to commercial businesses located in the City of Aitkin. Eligible projects include signage, facades, landscaping, awnings, energy efficient windows, and handicap accessibility. The maximum loan amount is 75% of the eligible project costs, up to $15,000. The interest rate is 3%. The maximum term is five years.
Below is a list of recommended financial institutions to receive funding.
Offering financial solutions in banking, investments, trust and insurance, with special attention to convenience options. Owned by our employees and the Otto Bremer Foundation. Our vision at Bremer is to build healthy communities through partnerships.
Members Cooperative Credit Unionhttp://www.membersccu.org
MCCU offers local service and smart financial products in Duluth, Cloquet, Aitkin and McGregor. MCCU is proud to be the largest Credit Union in Northern Minnesota, uniting communities since 1936.
Security State Bankhttp://www.ssbmn.com
We serve the communities of Aitkin, Garrison & Grand Marais in north central Minnesota. At Security State Bank we offer a wide range of financial products. You have the comfort and ease of banking whenever and wherever it is most convenient for you. With online banking and phone banking you can access your account information 24 hours a day, 365 days a year.