Commercial Lending

Flexible Terms, Minimal Fees, Efficient Processing 

The City of Coon Rapids offers financing options for certain types of commercial development projects. The loan funds are administered by the Central Minnesota Development Company (CMDC), which is authorized to provide Small Business Administration loans throughout Minnesota as well as other loan products.

Coon Rapids Commercial/Industrial Loan Fund


Funded by the City of Coon Rapids, these loans are administered by CMDC and are designed to leverage other private financing. For more information, contact Mike Mulrooney at CMDC at 763-784-3337.  Program criteria include:

What can the funds be used for? Projects must be a for-profit business and located in an industrial district or designated redevelopment area. Loan proceeds can be used for fixed assets, including land, building, machinery, and equipment (no working capital).

Loan Amounts: Minimum loan amount of $25,000 and maximum loan amount of $200,000 available with certain exceptions.

Other Funds Required: At least 50% of project financing must come from a private lender or private equity.

Interest Rate: Interest rates will be determined by market conditions at loan closing.

Term: Maximum of 10 years for machinery or equipment; maximum of 15 years for real estate.

Commercial Fix-Up Fund


The City of Coon Rapids offers financing for exterior improvements to commercial properties in the City’s established business districts. For more information, contact Mike Mulrooney at CMDC at 763-784-3337.  Program criteria include:


Who is eligible? Owners of commercial or office properties along Coon Rapids Boulevard and Foley-Northdale commercial district.


What can the funds be used for? Exterior building improvements, such as additions, windows, awnings, signs, masonry repairs, artwork, and exterior finishes. Site improvements, such as parking lots, signs, trash enclosures, fences, and landscaping.

Maximum Loan Amount: $150,000

Interest Rate: Interest rates will be determined by market conditions at loan closing.

Term: 10 years