Financial Resources

Carlton County has a strong network of public and private funding partners to assist in project funding to meet our goal of increasing the county’s tax base and create or retain jobs. The County has several Revolving Loan Funds with specific eligibility criteria including:

USDA Intermediary Relending Program Loan

Contact the Carlton County Economic Development Office to determine your business' eligibility for this loan program.

USDA Rural Business Enterprise Loan

Contact the Carlton County Economic Development Office to determine your business' eligibility for this loan program.

City of Cloquet

The City of Cloquet provides a variety of opportunities for local development. Their website offers access to many programs, resources, documents and other information related to business development in Cloquet.

Arrowhead Regional Development Commission

Arrowhead Regional Development Commission (ARDC), in cooperation with the U.S Economic Development Administration (EDA) has developed a business loan program that receives funding by all seven counties in the Arrowhead Region to provide financing for eligible businesses. Visit the  Arrowhead Regional Development Commission Planning web page for information on their programs.

Great River Energy

Great River Energy (GRE) offers a flexible business loan program which is designed to respond to the various financing needs of rural businesses in their service territories. Visit the Great River Energy Economic Development page.

Entrepreneur Fund

The Entrepreneur Fund provides business loans for acquisition, expansion, working capital and other needs up to and exceeding $750,000. They are agile, responsive and easy to work with, finding flexible financing options as needed. Their goal is to ensure capable entrepreneurs have the financing needed, when they need it for growth and success.  Visit the Entrepreneur Fund’s Financing page.

Northland Foundation

The Northland Foundation in cooperation with several funding partners has developed a Business Finance Program for the purpose of providing financing for eligible businesses in Northeastern Minnesota. The Business Finance Program offers flexible financing to people starting new or maintaining existing businesses in the seven-county Arrowhead Region. Recipients may be for-profit or nonprofit entities.Visit the Northland Foundation Business Loan page.

Property Assessed Clean Energy (PACE) Program

Through an agreement with the Saint Paul Port Authority, Carlton County commercial property owners are eligible to apply for project financing of energy efficiency and renewable energy upgrades to their buildings.  Funds are repaid as a separate line item on their property tax assessments for a set period rather than having to come up with up-front capital for the improvements.  See PACE Program flyer

MPCA Small Business Environmental Loan

The Small Business Environmental Loan Program provides low-interest loans to small businesses for capital equipment purchases that meet or exceed environmental regulations, and costs associated with the investigation and cleanup of contaminated sites.

MPCA Clean Air Grant

This grant program provides small business funding to reduce volatile organic compound emissions from coatings, inks, solvents, cleaners, and vehicles, as well as process or maintenance equipment used everyday across the state.