St. Croix Area Bankers Breakfast

Area financial professionals and business owners are invited to a regional Bankers Breakfast event to hear relevant updates.

Hampton Inn & Suites Hudson

The morning will include information about:SBA 504 Loan Program: The latest updates along with a summary of the 504 program will be provided at this session. The Small Business Administration (SBA) 504 loan program is used for the acquisition of fixed assets. Financing is available for land, buildings and equipment. The program is a vital tool for businesses, providing long-term, below-market, fixed-rate financing. Down payment requirements are lower than conventional bank financing. Projects can range from $125,000 to $15,000,000. Vice President and Senior Lender at Twin Cities Metro CDC, Debby Gustafson will provide the program update. Regional Business Fund: Learn more about RBF, a regional business revolving loan fund operating in the Wisconsin counties of Barron, Chippewa, Clark, Dunn, Eau Claire, Polk, and St. Croix. RBF offers low-interest gap loan funds to businesses providing an economic benefit which could include a business expansion; diversification of the economy; addition of new technology; creation or retention of quality jobs; and/or private capital investment in the region. Tobi LeMahieu, Fund Manager, will provide an update on the RBF.Update on St.Croix Meadows Redevelopment: Demolition took place on the old St. Croix Meadows dog track building to make way for a new development off Carmichael Road. This activity started last March and a $500,000 Idle Sites grant was awarded to the City of Hudson to offset a portion of the demolition and site grading costs. It late October development agreements were in place for two separate sites, including a 284,000+/- advanced manufacturing facility for Hudson-based Phillips Medisize. Developers of the 130-acre St. Croix Meadows site envision corporate space, hospitality, and a stadium for a 2020 entry into the Northwoods League. City of Hudson Mayor, Rich O'Connor will provide an update on the project. Continental breakfast and networking from 7:30 am - 8:00 am.Program from 8:00 am - 9:00 am.Event is sponsored in partnership between Twin Cities Metro CDC and the St. Croix Economic Development Corporation.

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St. Croix Area Bankers Breakfast

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