Services: Incentive and Financial Resource Programs

Contact: Holly Hansen, Community Development Director

Address: 1307 Cloquet Ave , Cloquet, MN 55720

Phone: 218-879-2507 x 4



This program is designed to help spur business development in Cloquet’s Historic West End Business District and fill vacant build-ings and storefronts. The funding will:
• Assist small businesses with the purchase of commercial property
• Help finance business owner-occupied building renovations to make a property commercially viable
• Encourage real estate investment in the Historic West End


Eligible commercial properties must be located in Cloquet’s West End/Dunlap Island Commercial Target Areas.


Building improvements for viable com-mercial occupancy space and building envelope improvements.

Loan Program Terms

The building must be 51% business owner-occupied (not a program for landlords).
Interest rates are prime minus 1.
The borrower must have contributing financing from a commercial lender.
Maximum loan amount $50,000 and requires one FT job (this loan amount can not exceed 50% of the project cost). Davis bacon/prevailing wage required on labor renovations.

Eligible Building Improvement Grants

If approved for the Advance West End Loan Fund, businesses may also qualify for a maximum building improvement grant of $10,000, 30% business match and Davis Bacon/Prevailing Wage re-quired. Inquire with the City on availability.


Contact the City for a loan application or visit

Other Submittals

• Comprehensive Business Plan
• Project Proforma and Sources and uses of funds, including equity and committed by commercial lender and other lenders. Identify busi-ness affiliates and collateral.
• Three years of financial state-ments including profit and loss projections. Schedule of business debt.
• Impact on community and jobs.
• Resumes and personal financial statements. Personal and busi-ness income tax statements. Cer-tificate of business authority.
• Purchase agreement / Deed