Business Resources

The City of Fridley is committed to helping you start, expand and sustain your business with our open door policy and robust business resources.

Business Newsletter

Our Business Connection newsletter is distributed on a quarterly basis and contains information about growth opportunities, business assistance programs and events.

Subscribe to the Newsletter

Recent Editions

Recent editions of the Fridley Business Newsletter are available for reviewing. To stay the most up-to-date on business news, please subscribe to the business newsletter.

Request a Business Visit

We value our diverse business community and are committed to helping your business succeed in Fridley. To strengthen our partnership with local businesses, we would like to meet with you personally to discuss what the City of Fridley can do to help your business grow. We want to hear your questions, concerns and suggestions, and share information on available resources.

If you would like to schedule a visit, please complete the Request a Visit form and we will get in touch with you soon to schedule a time.

Financial Resources

The City of Fridley offers a variety of financing options for projects that keep development in our city vibrant and growing. These resources are administered by both the City and our partners.

Fridley Business Loan

Flexible Terms, Minimal Fees, Efficient Processing

The City of Fridley HRA offers a great commercial/industrial loan, administered by the Central Minnesota Development Company (CMDC), which is authorized to provide Small Business Administration loans throughout Minnesota as well as other loan products.

These loans are designed to leverage other private financing.

What can the funds be used for?

Projects must be a for-profit business and located in a commercial or industrially zoned area. Loan proceeds can be used for fixed assets including land, building, machinery, and equipment (no working capital).

Loan Amounts

  • Minimum = $50,000
  • Maximum = $150,000
  • *Certain exceptions apply.

Other Fund Required

At least 55 percent of project financing must come from a private lender or private equity.

Interest Rate

Determined by market conditions at loan closing.

Term

  • Maximum of 10 years for machinery and equipment;
  • Maximum of 15 years for real estate.

Learn More and Apply

For more information or to apply, contact Timothy Walker, CMDC, at 763-784-3337 or visit CMDC website.

Tax Increment/Tax Rebate Financing

Tax increment financing (TIF) is a tool used by cities to finance certain types of real estate development costs. The primary purpose of TIF is to attract private investment that will: 1) redevelop blighted areas, 2) provide housing for low- and moderate-income individuals and families, or 3) result in increased employment opportunities and tax base.

Developers may request TIF assistance(DOCX, 74KB) from the Fridley Housing and Redevelopment Authority (HRA). A $7,500 fee is due at the time of application. This fee will be used to establish an initial Preliminary Planning Fund budget to analyze the request.

To discuss your project and potential TIF application, contact Paul Bolin, Fridley HRA, by phone at 763-572-3591 or email. You can also download a fillable application for TIF assistance(DOCX, 74KB).

CMDC Initiative Fund

This fund may be used for land, building, machinery and equipment. Learn more by contacting Timothy Walker, CMDC, at 763-784-3337 or visiting the CMDC Business Financing website.

MCCD Small Business Loan

This business loan can be used for real estate, fixed assets, inventory and working capital. Contact MCCD at 612-789-7337 or info@mccdmn.org to learn more.

CEE Energy Efficiency Loans

Learn more about loans for lighting, HVAC equipment, refrigeration equipment, insulation, doors and windows. Contact Jim Hasnik, CEE, at 612-335-5885.

CEE One-Stop Efficiency Shop

Learn more about free lighting, HVAC, and refrigeration assessment and rebate assistance. Contact the Center for Energy and Environment (CEE) at 612-244-242.

Xcel New Building Programs

Learn about energy modeling and rebate programs for energy efficiency equipment in new buildings on Xcel Energy's New Building Programs webpage.

MinnPACE (Property-Assessed Clean Energy)

Financing for energy efficiency and renewable energy projects paid through voluntary tax assessments. Contact MinnPACE at 651-204-6216.

Minnesota Investment Fund

Loans for real estate and fixed assets for manufacturing and technology-related industries. Contact Paul Bolin, City of Fridley HRA, at 763-572-3591.

State of Minnesota Job Creation Fund

Rebate for job creation. Contact Paul Bolin, City of Fridley HRA at 763-572-3591.

Metropolitan Council Livable Communities Grants

Grants for land assembly and public infrastructure that maximize benefits of regional infrastructure. Contact Paul Bolin, City of Fridley HRA at 763-572-3591.

Metropolitan Council Tax Base Revitalization Account

Environmental assessment and cleanup for residential, commercial or industrial development. Contact Paul Bolin, City of Fridley HRA at 763-572-3591.

State of Minnesota Redevelopment Grants

Grants supporting real estate redevelopment. Contact Paul Bolin, City of Fridley HRA at 763-572-3591.

Open to Business Program

Looking for a trusted advisor for your business? Need to secure financing to start or expand your business? If so, the Open to Business program is for you.

Thanks to a partnership between the City of Fridley, Anoka County, and the Metropolitan Consortium of Community Developers (MCCD), business owners or those looking to start a new business in Fridley have access to this free one-on-one counseling.

Free Technical Assistance

  • Financial Management
  • Loan Packaging
  • Business Plan Assistance
  • Real Estate Analysis
  • Marketing Assistance
  • Strategic Planning
  • Business Regulations
  • Professional Referrals

Small Business Loan Program

Open to Business advisers can also assist entrepreneurs to identify borrowing needs and financing options. Advisors work with clients to help them find the financing that best meets their own unique needs. MCCD also provides direct financing and loans in partnership with banks and nonprofit lenders. Funds can be used for inventory, working capital, asset and equipment purchases, real estate acquisition, and start-up costs.

How It Works

Make an appointment to suit your schedule. Call Open to Business at 612-789-7337 or email info@mccdmn.org.

Commercial & Industrial Code

Please note that code requirements for commercial/industrial properties may differ from those for residential properties

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