Local Financing
| Swift County Daycare Grant | Swift County Revolving Loan Funds (RLF) | Tax Abatement | Tax Increment Financing (TIF) |
| Swift County is invested in increasing and ensuring the daycare providers in this county have the resources that they need to meet licensure requirements and the resources to improve the daycare's curriculum, safety, and equipment. These grant funds will be on a first come first serve basis. | The Revolving Loan Funds are designed to provide GAP financing for businesses and industries starting up or expanding within Swift County. The EDA RLF is typically used for loan requests under $25,000. | With Tax Abatement, the County rebates its portion of property takes back to the property owner who then uses it to help offset development and/or redevelopment costs. The availability of tax abatement is limited- in any given year, for all economic development projects taking place, the County can abate an amount equaling no more than $200,000 per year | The Swift County EDA is willing to consider the employment of Tax Increment Financing (TIF) for eligible projects. There are two types of Tax Increment Financing Districts available. |
| Daycare Grant Application |
Funds can be used for land & Building purchase, building construction, renovation and/or expansion, machinery & equipment, working capital and inventory. |
The project must provide one or more of the following public benefits: it much increase or preserve tax base, result in job creation, redevelop blighted areas, or provide services not currently available to the residents of Swift County |
Redevelopment TIF District A District that can go up to 25 years and will provide funds for the removal of blighting conditions on a lot (sub-standing buildings, site clean up, etc.) |
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The Human Services Webpage is another great resource for more information about this grant. |
Learn more here: |
Taxes can be abated for up to 10 years |
Economic Development TIF District A 9-year district that can provide funds for land |
State & Federal Financing
Job Creation Fund (JFC)
This program provides financial incentives to new and expanding businesses that meet certain job creation and capital investment targets.
Minnesota Investment Fund (MIF)
The Minnesota Investment Fund was created to facilitate the creation & retention of high quality jobs on a statewide basis, increase both the local & state tax base, and to improve economic vitality of the state.
Minnesota Job Skills Partnership Program (MJSP)
The MJSP works with business, educational institutions and nonprofit organizations to rain or retrain workers, expand work opportunities and keep high quality jobs in the state.
Rural Electric Economic Development, Inc (REED)
The REED Fund provides financing and helps leverage investment in small communities and rural areas, targeting projects that will promote growth and contribute to job creation, wealth creation, and improvements in the infrastructure and economic base.
SBA 504 Loan Program
The Minnesota Business Finance Corporation (MBFC) is a non profit corporation set up to contribute to the economic development of the central Minnesota region.
SBA 7(a) Loan Guaranty Program
The 7(a) Loan Guaranty Program is one of the SBA's primary lending programs. It provides loans to small businesses that are unable to secure financing on reasonable terms through normal lending channels.
SBA Express Loan Program
The SBA Express loan program is a simplified loan guarantee program that is essentially the same as its 7(a) loan program. The Express program is typically much faster and easier than the 7(a), however loan amounts cannot exceed $350,000.
Small Business Development Loan Program
The Minnesota Agricultural and Economic Development Board (MAEDB) administers this loan program in order to promote the creation of jobs and assist in business expansions in the state.