The City of Wadena and the Wadena Development Authority provide assistance to businesses through an array of grants and loan programs and can assist business in accessing numerous regional, state, and federal programs.
Minnesota Community Capital Fund Loan
Administrator: Minnesota Community Capital Fund
Eligible Uses: Fixed assets, including land and building purchase, building construction, leasehold improvements and renovations; acquisition, renovation or moving machinery and equipment; and working capital loans secured by fixed assets with fixed repayment schedules (not lines of credit).
Amount Available: $50,000 to $2,500,000
Term: Up to 20 years.
Rate: Specific to particular loan
Private Financing Required: Project must involve a financial institution.