Whether you are an emerging business looking for help getting started or
a larger entity looking for gap financing, the City of Northfield's
programs can help meet your needs.
If you have any questions about
the grant and loan program, please contact our staff, and we will be
happy to walk you through the options and connect you with many other financing opportunities.
The Micro-grant Program is part of the EDA’s progressive business support program. It is designed to strengthen emerging businesses and position them for future growth by helping them take a significant step in developing their technical, management, or marketing capabilities. The maximum micro-grant award is $5,000.
Micro-grant funds can be used for a wide variety of purposes including, but not limited to:
The City of Northfield’s Downtown Revolving Loan Fund (DRL) provides low interest loans to downtown businesses and/or their tenants to assist with the completion of exterior and interior improvements to the building. Loan awards are up to $25,000, payable over a span of up to 60 months.
The City of Northfield’s City-Wide Revolving Loan Fund (RLF) Program provides low interest loans for businesses either located in, or relocating to, the City of Northfield. The purpose of this fund is to:
Provide gap financing to supplement conventional bank loans for new and existing business expansion
Retain and/or create jobs
Expand the local tax base
Encourage new business investment in the community