Program Eligible Expenses
Eligible activities would include exterior and interior remodeling, elimination of architectural barriers to handicapped and elderly, costs of converting electrical services from above ground to below ground and energy conservation improvements.

Eligible Borrowers
Eligible borrowers would include non-profits, building owners and business owners with building owner approval. Priorities will be given to vacant buildings, visual impact, elimination of code deficiencies and energy conservation, buildings to be totally rehabilitated and job creation.  The property must also be located within the City of Fergus Falls.

Loan Review Board
Business Development, Inc. will review all applications for compliance with program intent, which is to complement and enhance the Redevelopment Project.

Loan Limitation
$35,000 per applicant with 4% interest rate.

Monthly Payment
This is a revolving loan fund and monthly payments will be made based on amount funded.