Financing & Grant Opportunities
The City of Montgomery promotes local economic development via the Montgomery Economic Development Authority. Both are committed to helping current and prospective businesses obtain the resources necessary for success. Montgomery has a wide range of private and public financial resources available for these businesses right here in the community. The City is eager to assist businesses with financing options, site selection, and other key components of business growth.
Private Financing
The City of Montgomery has two (2) very active commercial lenders located right in town. CornerStone State Bank and Frandsen Bank and Trust can provide financing on a wide range of economic development projects.
Tax Abatement & Tax Increment Financing (TIF)
The City of Montgomery will also consider tax abatement and tax increment financing requests as possible financial tools for helping your business. Please contact City Hall at 507.364.8888.
Revolving Loan Fund
The Montgomery EDA's main objectives are to encourage, attract, retain, promote, and develop economically sound commercial and industry within the city. The City of Montgomery currently offers a Revolving Loan Fund (RLF) that is designed to provide financing for promotion of business start-up and growth, retention of current businesses and industries, promotion of economic diversity, revitalization of businesses, and employee recruitment and retention.
If you are interested in learning in receiving more information about the Revolving Loan Fund, please review the program for eligible uses or contact City Hall at 507.364.8888.
Commercial Exterior Grant Program
First offered in 2018 and reauthorized in 2020, this grant program is intended to assist businesses and property owners with buildings in the business and industrial zoning districts make exterior improvements. The objective is to increase the marketability of our businesses and storefronts, preserve our building assets and invest in the appeal of our business districts. A welcoming, vibrant business district sends a powerful, positive message. It can enhance the sense of place and make commercial areas more inviting to walk and shop. To receive an application, contact City Hall at 507.364.888 or email.
Exterior Improvement Grant Guidlines and 2020 Application