Economic Development Services
City of Saint Peter COVID-19 Micro Loan Program
The Saint Peter Economic Development Authority (EDA) and City Council have adopted guidelines for the implementation and administration of a COVID-19 Micro Loan Program. The intent of the program is to assist those local businesses most directly impacted by the Governor’s Executive Orders number 20-04 and 20-08.
COVID-19 Micro Loan Application
Contact Russ Wille at 507-934-0661 or email if you need additional information or have any questions.
Economic Development Revolving Loan Fund
- Finance up to 40% of identified project costs
- Eligible project costs include:
- Building improvements or expansions
- Land / Building Purchase
- Machinery / Equipment
- Interest charged at U.S. Prime Rate
- Mortgage subordinated to primary project lender
- Variable amortization based on loan amount with balloon payment
Historic Preservation / Accessibility Enhancement Loan Fund
- 0% interest
- Eligible projects (Subject to review / approval of the Heritage Preservation Commission):
- Americans with Disabilities accessibility enhancements
- Exterior building repair, maintenance or renovation
- Façade enhancements including signage
- New doors, windows or awnings
- Finance up to 90% of project costs
- Loan secured via recorded mortgage
- Partial loan forgiveness
- Restricted to properties within the Heritage Preservation District
- Variable amortization based upon loan amount
Business Start-Up Assistance
- Business plan preparation
- Financial projections and cash flow analysis
- Market analysis
- Marketing and promotions planning
- Social media presence consultation
Business Administration Consultations
- Expansion planning and strategies
- Human resources administration and policy development
- Succession planning
- Supply chain analysis
Heritage Preservation Commission
Heritage preservation and revitalization of Saint Peter’s downtown district has been a recognized priority for years. In 1988, the City Council acknowledged this need and adopted the Saint Peter Heritage Preservation Ordinance creating the Heritage Preservation Commission to guide the restoration and rehabilitation of the historic business district.
The Heritage Preservation Ordinance is intended to preserve the natural beauty and distinctive character of the downtown district. Adherence to the ordinance will promote the charm and atmosphere of an integrated shopping, living, entertainment and recreation area for visitors and the citizens of Saint Peter.
Prior to the issuance of a building permit for signs, graphics or work which would alter the appearance of any designated property the Heritage Preservation Commission must review the project for conformance with the Secretary of Interior’s Standards for Rehabilitation.
Design review applications are available from the Community Development Office.