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This program provides funding support to provide loans and loan guarantees to businesses located in the service area. These neighborhoods are at an important point of transition. Support of businesses in the area is important its stability and vitality. We target small to medium retail and manufacturing business that will provide both a service to the neighborhood residents and employment opportunities.
The benefits of the program are to the individuals businesses but also to the neighborhood resident. The general benefit is that services remain close to the resident’s homes and that the area as a whole remains healthy and stable. Both the elderly population and younger families appreciate and support the variety of retail and professional businesses in this area.
There are several possible projects that are in various stages of research and planning including the Hillcrest Village site, Phalen Village site and area along White bear Avenue. The relocation of the Wells Fargo bank site to Prosperity Avenue will have a positive impact on business development in the area. The relocation of the BCA building is also anticipated to have a major positive impact.
NENDC provides the primary source of home rehabilitation funds for low to moderate-income homeowners within our defined service area. Our program does coordinate with other purchase – rehab and financing programs including, Saint Paul Home Loan Funds (SPHLF), Minnesota Housing Finance Agency, Environment and Energy Resource Center, Ramsey Action Programs and Community NHS – (First Time Home Buyer Workshops).
This is a continuation of a recently funded program. It is NENDC’s intention that it be on going. |
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Business Loans |
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North East Neighborhoods Development Corporation Chuck Repke 1212 Prosperity Ave. Saint Paul, MN 55106 Phone: 651-771-6955 Fax: 651-774-1768 Email: nendc@qwest.net |
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North East Neighborhoods Development Corporation |
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Web Site Created by Sherrelle Anderson |
