The City of North Branch & its Economic Development Authority (EDA) with the generosity of East Central Energy created a COVID-19 Emergency Relief Loan Program to assist struggling businesses due to COVID-19.

• This is for existing business located in the City of North Branch.

• Loans will be subject to interest accruing at the Wall Street Journal prime rate in effect on the date the loan is funded; however, interest will not accrue for the first 6 months from the date the loan is funded.

• Maximum loan amount is $5,000 per business and maximum term is 4 years

• A promissory note and personal guaranty are required for security.

• Funds will be released after required documents have been signed and the City Council approves the loan.

• Click on the Application Link To Apply: Application

• Contact Community Development Director Vita at carlav@ci.north-branch.mn.us or 651.674.8113 for more information.