MN Business Loan News | SBA Loans MN | SBA Loan Trends

Thank you, Veterans, for Your Service

As a special thank you to those who have honorably served our country, CMDC is proud to announce a financing initiative for veterans interested in starting or expanding their businesses. It is called the Minnesota Emerging Entrepreneur Loan Program (EELP). This financing program supports the growth of companies owned by veterans with special funds for loans to start up and expand veteran-owned businesses throughout the state.

Celebrating Small Business Week

This week, CMDC celebrates National Small Business Week in partnership with the Small Business Administration (SBA). Here in Minnesota, 46% of workers are employed by small businesses, which account for 1.3 million jobs. New small businesses in Minnesota are more likely to be thriving at five years than anywhere else in the country. At CMDC, we are working hard to support small businesses whether they have been operating for decades or are launching the next new technology start-up.

Small Businesses Can Now Refinance Commercial Mortgages and Other Business Debt Under the New SBA 504 Refinance Loan Program

Small business owners can reduce their monthly mortgage payments and access trapped equity in commercial real estate they own by refinancing conventional real estate loans through the SBA’s new 504 Debt Refinancing Program.

It is the Best Time Ever to Finance a Business with an SBA 504 Loan

Not only are SBA 504 rates at all-time lows, fees have been reduced as well. The Small Business Administration (SBA) has announced the temporary elimination of certain 504 loan fees in accordance with the Economic Aid Act approved by Congress.

CMDC Chosen as Emerging Entrepreneur Loan Program Lender

The Minnesota Department of Employment and Economic Development announced that it has selected CMDC as a lending partner for the Minnesota Emerging Entrepreneur Loan Program (ELP).