The Marshall Business Loan Policy is a document used to guide decisions relating to the use of the revolving funds from the Minnesota Investment Fund.
The following are requirements that the borrower must fulfill during the loan process for the Marshall Economic Development (EDA) Community Reinvestment Fund (CRIF). Marshall EDA staff is available to assist in this process. Only industrial and manufacturing businesses in nature are eligible.
Per the Business Subsidy Policy & Criteria Section 4.1, "all Business Subsidies and JOBZ Business Subsidy Wage Goals, the Recipient must create and retain an hourly wage average, including insurance, of 110 percent of the State poverty level for a family of four." As of February 1, 2014, the required hourly wage to comply to the Business Subsidy Policy & Criteria is $12.61/hour. Current Poverty Guidelines