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Central Minnesota Development

Andover, MN 55304

SBA Certified Development Company
315
Loans Approved
$245.5M
Total Volume
$779K
Avg Loan Size
6
States Served

States Served

ArizonaMinnesotaNorth DakotaOhioWisconsinWyoming

Top Industries Financed

  • All Other Plastics Product Manufacturing
  • Full-Service Restaurants
  • Homes for the Elderly
  • General Automotive Repair
  • All Other Specialty Trade Contractors

Quick Summary

Central Minnesota Development is an SBA-certified Certified Development Company (CDC) headquartered in Andover, Minnesota. Since 2010, they have approved 315 SBA 504 loans totaling $245.5M, with an average loan size of $779K. They serve businesses across 6 states.

About Central Minnesota Development

Central Minnesota Development is an SBA-certified Certified Development Company (CDC) headquartered in Andover, Minnesota. Since 2010, they have approved 315 SBA 504 loans totaling $245.5M, with an average loan size of $779K. They serve businesses across 6 states.

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Frequently Asked Questions

What does Central Minnesota Development do?

Central Minnesota Development is an SBA-certified Certified Development Company (CDC) based in Andover, Minnesota. CDCs partner with banks to deliver SBA 504 loans — a long-term, fixed-rate financing program for commercial real estate and equipment. Central Minnesota Development handles the SBA-backed 40% portion of the financing structure.

How many SBA 504 loans has Central Minnesota Development approved?

According to SBA FOIA public records, Central Minnesota Development has approved 315 SBA 504 loans totaling $245.5M since 2010. Their average loan size is $779K.

What states does Central Minnesota Development serve?

Central Minnesota Development serves businesses in 6 states: Arizona, Minnesota, North Dakota, Ohio, Wisconsin, Wyoming.

How do I apply for an SBA 504 loan through Central Minnesota Development?

To apply for an SBA 504 loan through Central Minnesota Development, contact them using the form on this page. You'll also need to work with a participating bank for the 50% bank portion. Before applying, prepare 3 years of business tax returns, personal financial statements, a business plan, and details about the property or equipment you're financing. Most 504 loans require 2+ years in business and a FICO SBSS score of 155+.

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