Owner Loans

Work on the new Co-op building has slowed a bit over the holidays, but they plan to pour the last ICF wall section on Friday, December 28th. Things are really moving along.

As the project moves forward, we still need help from our Owners in the form of Owner Loans. Our loan campaign has been quite successful. We've raised $450,000 so far but would love to reach our $600,000 Owner Loan goal. The longer loan terms are full, but there is plenty of space in the 6 year and 7 year term lengths. Stop in or give Jennifer or Marietta a call at 218-387-1939 if you have any questions about the loan program or if you're ready to lend money. Thanks.

Owner Loan Rates and Terms

Amount	5 YRS	6 YRS	7 YRS	8 yrs-full	9 yrs-full
$1,000-4,000	2.00%	2.25%	2.50%	3.00%	3.75%
$5,000-9,999	2.50%	2.75%	3.00%	3.50%	4.25%
$10,000 and up	3.00%	3.25%	3.50%	4.00%	5.00%