Preston
Commercial Incentive/Improvement Revolving
Loan Fund
The Preston Economic Development
Authority operates a Revolving Loan fund to
assist with business start ups and
expansions. The incentive is offered through
very low interest rates and attractive
financing terms.
Preston
Business Expansion/Job Creation Revolving
Loan Fund
The Preston EDA also operates a Job Creation
loan fund. This fund is used to provide
discounted financing for projects that
include the creation of jobs.
Minnesota Community Capital Fund (MCCF)
Preston is a founding member of the MCCF. Through the Preston
EDA, qualifying businesses can access up to $500,000 in
subordinated financing to assist with new developments and
expansions.
Tax Increment
Financing/Tax Abatement
TIF/Tax Abatement may be offered for those
business ventures which appear to need extra
financial incentive to make them feasible.
Small
Business Development Center
There is a representative of the SBA Small Business
Development Center in Preston two days a week. This professional
is available to assist with business start-ups and expansions.
The SBDC can also provide counseling on many aspects of business
operations.
Professional
Development Staff
The City of Preston employs the
services of a Regional Development organization.
Through these services, the City has access
to numerous development programs that
otherwise are often more difficult to attain.
We can help identify and apply to programs to
meet your needs. These include...
Small
Business Development Center
Job Training
Assistance
Minnesota
Department of Employment & Economic
Development
Building
Renovation & Rehabilitation
Technology
Manufacturing
Agricultural/Food
Processing
