The Duluth 1200 Fund is a financial institution in Duluth, MN that offers incentive loans to businesses for expansions and relocations within the city, with the aim of creating new jobs. Their loan programs are designed to address gaps in financial packages and support business growth, providing funding for various phases of business development.
With a maximum loan amount of $500,000, the Duluth 1200 Fund focuses on existing businesses that have been operating for three or more years, requiring a minimum ratio of two private dollars to one fund dollar. They offer fixed rate financing for fixed assets and machinery, as well as working capital, with loan terms ranging from 5 to 17 years. Additionally, they have specialized loan programs for business start-ups, mentorship support, and childcare providers within the city limits of Duluth.
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