Port Authority Operates a Revolving Loan Fund

12 Dec 2016

The Red Wing Port Authority operates a Revolving Loan Fund for any legitimate business operating or planning to operate in the City of Red Wing. The funds from the Revolving Loan Fund may be used for machinery, equipment, building rehabilitation and real estate. The minimum loan amount is $10,000 with a maximum amount not to exceed the current balance of the fund.

Terms of the loans are up to 7 years, with an annual interest rate between 5%-8%. For more information on collateral, application process, ineligible use of proceeds, please contact the Red Wing Port Authority or click here for the Red Wing Port Authority Revolving Loan Fund Application: http://www.redwingportauthority.org/red-wing-port-authority/loans-and-incentives/loan-programs

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