2020 Economic Development Authority Forgiveable Loan Program is now available!
The purpose of this program is to facilitate the renovation and improvement of commercial buildings within a specified area of downtown Owatonna. This loan can be used in conjunction with other EDA loans provided the requirements of those loans are met.
Completed applications along with the completed 2020 Forgivable Loan Program APPLICATION CHECKLIST and a check for the $25 application fee are to be submitted to the Owatonna Area Business Development Center 1065 24th Avenue SW Owatonna, MN 55060. Checks are to be made out to Owatonna EDA. For questions about the program or other EDA loan programs feel free to contact Bill Owens (507) 451-0517 The loans are forgivable over a period of five years. (20% each year.)
Check out the EDA's 2020 Forgiveable Loan Program! View the application checklist and the design guidelines and fill out the application!