Finance Committee

Mission: Leverage financial resources and loan programs to enhance economic growth in Kandiyohi County

The Finance Committee meets as needed at 12 noon on the second Tuesday of the month at the EDC Office.

Goals

1. Provide financial assistance and coordinate financial packaging to enhance opportunities for business growth
   1. in collaboration with Kandiyohi County banks and state agencies
   2. to companies locating in Kandiyohi County
   3. to other entrepreneurs
2. Pursue and promote alternative sources of funding
   1. Search for financing options from other economic groups
   2. Collaborate with MinnWest Technology Campus (MWTC) on unique needs of bioscience startup companies interested in MWTC
3. Market loan programs through
   1. publicity opportunities
   2. one-on-one meetings with entrepreneurs
   3. meeting with Kandiyohi County banks
4. Refer entrepreneurs and problem loans to SCORE and the Small Business Development Center
5. Evaluate loan loss reserves (annually)
6. Review marketing information (annually)

EDC Loan Programs

The Finance Committee also administers the EDC’s loan programs:

• Entrepreneurs’ Loan Guarantee Program
• Industrial Initiatives Loan Program
• Revolving Loan Fund