Financial & Technical Assistance

Business Resources and Financing Opportunities

South St. Paul works with businesses to identify, pursue, and integrate funding and technical assistance to help move development projects from concept to reality. Contact City Administrator Ryan Garcia to discuss your project and explore potential funding opportunities through local, county, or state partners. The City’s Business Subsidy Policy (PDF) outlines the objectives the EDA considers when providing financial assistance to businesses.

Small Business and Development Loan Program

The South St. Paul EDA offers a Small Business and Development Loan Program to support local economic growth. The program includes:

  • Micro Loan: Designed for small businesses needing limited capital in the early stages of growth.
  • Gap Loan: A supplemental loan to assist with traditional bank financing.

Small Business and Development Loan Program Application (PDF)

Tax Increment Financing (TIF)

South St. Paul has successfully used Tax Increment Financing to support development projects facing environmental or infrastructure challenges. The EDA’s TIF Policy (PDF) outlines a flexible approach to assisting businesses in meeting the City’s economic development goals.

Application for Public Assistance (PDF)

Property Tax Abatement

The City of South St. Paul may consider abating a portion of City property taxes for projects meeting specific criteria. Businesses requesting abatement must demonstrate a significant increase in property value or employment as a result of their project.

Application for Public Assistance (PDF)

Brownfields Resources

As a historically industrial city, South St. Paul has sites with known or suspected soil or groundwater contamination. Our staff has extensive experience in brownfields redevelopment and can help businesses access financial resources at the local, county, metro, and state levels. Contact us to explore funding options for eligible sites.

State Programs

The City works with state partners like the Minnesota Department of Employment and Economic Development (DEED) to secure additional financial and technical resources for businesses. Key DEED programs available in South St. Paul include:

South St. Paul Future Inc.

South St. Paul Future Inc. is a private, for-profit corporation offering competitive fixed-asset financing to qualified businesses based in the city. Financing may support equipment purchases, expansions, startups, or acquisitions.

Learn more about South St. Paul Future Inc. or call 651-389-1031 for more information.

504 Loan Program

South St. Paul can connect businesses with qualified lenders to secure long-term, fixed-rate financing for up to 90% of the capital needed for:

  • Land and building purchases
  • Rehabilitation and construction
  • Leasehold improvements
  • Machinery and equipment purchases

SBA 7(a) Loan Program

South St. Paul assists small businesses (fewer than 250 employees) and wholesale firms (annual sales under $9.5 million) in securing SBA 7(a) loans, which can be used for:

  • Working capital and inventory
  • Machinery and equipment
  • Land and building purchases
  • Land acquisition
  • Renovation and facility construction

Open to Business

South St. Paul partners with MCCD’s Open to Business program to offer free, one-on-one business consulting for new and existing businesses. This program provides technical assistance and financing opportunities for qualified business development projects.