Financing Opportunities for Your Business

Local Financing Available:

Cannon Falls supports three banks in the community: Community Resource Bank, First Farmers & Merchants Bank and Merchants Bank. Each of these lenders provides a full array of financial services to meet local needs. The City of Cannon Falls has developed a working and cooperative relationship with these private institutions to leverage, foster and facilitate local economic development. Another available financing resource is the Economic Initiative Corporation of Cannon Falls. They offer low interest business loans for start ups, equipment, operating capital, expansion or remodels.

Local Initiatives:

The City of Cannon Falls Economic Development Authority has considerable experience in identifying, administering and funding economic development financing programs. Local initiatives include the formation and management of several Tax Increment Financing Districts and Abatement projects and management of the Cannon Falls Revolving Loan Fund. The purpose of the Revolving Loan Fund is to create/retain employment opportunities through business start-ups, expansions, retentions and/or relocations. 

Regional Relationships:

The City of Cannon Falls has developed a working relationship with the Minnesota Department of Employment and Economic Development, the Southern Minnesota Initiative Foundation, the Small Business Administration, Dakota Electric Association/Great River Energy and other public nonprofit lenders to successfully secure competitive funding for economic development projects.