Financing

Services: Incentive and Financial Resource Programs

Contact: Yusef Orest, Member Services Manager

Address: 5301 Hwy 61 PO Box 39, Lutsen, MN 55612

Phone: 218.663.7239

Email: yorest@arrowhead.coop

Description:

The Arrowhead Electric Cooperative Revolving Loan Fund services businesses in AEC's service area.

Eligible Applicants: Non-profit entities, public bodies, and all business types excluding conventional agriculture.

Eligible use of proceeds include:





  • Land and building acquisition
  • Land improvements
  • New building construction
  • Building renovation
  • Machinery and equipment
  • Community infrastructure
  • Facilities and equipment to provide medical care
  • Facilities and equipment to provide education and job training
  • Computers and other technology related equipment.

Loan Terms:

$5,000-$200,000
0.5% below prime
Ten year term
Max. 50% of project cost