3-6% Construction & Rehab Loans; Recent Projects
Construction and Rehab Loans cover a wide range of projects at exceptional rates
The Northland Foundation has capital available for low-interest financing for commercial construction and rehabilitation projects within our service area. We are most interested in providing these loans as gap financing in partnership with other lenders but, under certain circumstances, could be the sole lender.
- Loans up to $500,000
- Interest rates of 3-6%
- Land Acquisition, Development, Redevelopment, Demolition, Site Preparation Predesign, Design, Engineering
- Repair, Renovation of Real Property, Capital Improvements, Relocation
“This is a great option for businesses and their bank partners to round out the financing on new construction or enhancements. We love to play a part in getting new builds and rehab projects past the finish line.”
If you’re curious about Low-interest Construction and Rehabilitation loans or any of the other financing tools we have available for businesses and nonprofits in our region, please contact Amanda Vuicich or Michael Colclough. You can also find more information on our website.
Rural housing project, child care center receive Northland Foundation financing
The Northland Foundation provide loans to two small business borrowers in rural northeastern Minnesota. Both businesses are utilizing the funds to provide much-needed resources in their communities.
Negley Properties has purchased a 16-unit apartment complex in the northern St. Louis County town of Babbitt to provide workforce housing as well as for local residents living with disabilities, and in Two Harbors in Lake County, financing supported an ownership transition of a preschool and child care center.
- Negley Properties, LLC, d/b/a Rural Living Environments, Babbitt
- Nordean Properties, LLC, d/b/a Kickstart Preschool and Childcare Center, Two Harbors
Are you a small business, aspiring business owner, or a bank or credit union seeking to partner or refer clients? Get in touch by emailing Michael Colclough, VP of Business Services, or Amanda Vuicich, Small Business Lender. We’re here to help!