Financing, Incentives & Other Resources

Businesses located in White Bear Lake have access to our Revolving Loan and Grant Program (RLGP) for improvements to their property. The RLGP is aimed at improving the utility and appearance of Downtown or County Road E businesses while encouraging the leveraging of private investment which would otherwise not occur.

Other programs through Center for Energy and Environment (CEE), Ramsey County, and Central MN Development Corporation (CMDC) provide opportunities for starting, growing or expanding your businesses.

CEO Next Business Institute

Recognizing the impact growing businesses make on the local economy, Hennepin, Ramsey, Scott and Dakota counties, along with the city of Saint Paul, established a resource program for second stage businesses. The purpose of the program is to help growing companies make a larger impact by offering business research and support at no cost. The program includes both peer learning through a monthly CEO roundtable and guest speakers during the program, as well as working with a team of topical experts and research specialists to help CEOs shore up their internal infrastructure while preparing to grow profitability. For more information about the program click here to visit Ramsey County's website.

Energy Efficiency Resources for Businesses

Not only are energy efficiency upgrades good for the environment, they can help your bottom line through reductions to your energy costs. Follow this link for various resources available to businesses in White Bear Lake.

SPEDCO

A Minnesota Certified Development Company (CDC) that originates SBA 504 loans in Minnesota and Western Wisconsin. Their mission is to help small businesses obtain financing for job creation, to fund business expansion and to promote economic development throughout the state of Minnesota and nine counties in western Wisconsin.

Revolving Loan and Grant Program

The Revolving Loan and Grant Program (RLGP) is aimed at improving the utility and appearance of Downtown or County Road E businesses while encouraging the leveraging of private investment which would otherwise not occur. The program provides up to $40,000 for a term of up to 10 years at two percent interest. Revolving loan program participation requires a 100 percent match by an authorized participating White Bear Lake located financial institution. The program also offers grants to those businesses financing at least $20,000, and completing exterior improvements. If interested see the attached document for more information, and feel free to contact economic development staff.

Fire Suppression Financing Program

Does your building need a fire suppression system? The City of White Bear Lake has a program that allows you to finance the cost of adding a fire suppression system to your property by assessing the cost over 10 years. For current interest rates contact the Housing & Economic Development Coordinator. See the Fire Suppression Financing Program handout for more information.

Ramsey County Business Resources

Ramsey County offers a variety of economic development programs, including resources for businesses. These programs include a business loan program, property development programs and more. For a complete list of their business resources click here.

Their business loan program offers loans on a first-come, first-served basis to for-profit start-up or expanding businesses. These loans are restricted to commercial, industrial or service businesses located in or moving to suburban communities in Ramsey County. Businesses must be registered to do business in Minnesota and must demonstrate a need for public financing. Visit their website for more program information.

MN Department of Employment and Economic Development (DEED)

DEED consultants help you find solutions to your most difficult business problems. Services offered by DEED include: financing programs, finding workers, exporting and trade, locating in Minnesota, and business guidance. See DEED Guidebooks Web page for in-depth publications that are produced in collaboration with major Minnesota law firms and subject matter experts on a wide variety of business topics.

Center for Energy and Environment (CEE)

CEE offers financing to businesses for energy related improvements. As a non-profit organization, CEE's Lending Center provides lending services for many partnering cities, utilities, the Minnesota Housing Fix-Up program. See the brochure for their Commercial Energy Efficiency Loan Program here.

Central Minnesota Development Company (CMDC)

CMDC small business loan programs are designed for the small business owner with benefits that exceed traditional business loans. CMDC's experienced staff specializes in identifying and understanding the financing programs from start-up businesses to well-established small companies in Minnesota.