Economic Development

​Mission Statement​

The mission of the Sleepy Eye Economic Development Authority (EDA) is to maintain and improve the community through the retention and growth of business, industry and services. 
Contact Us: 
Sleepy Eye EDA
200 Main Street East
Sleepy Eye, MN  56085 
Phone:  507-794-5636
email:  eda@sleepyeye-mn.com
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Kurk Kramer EDA Coordinator
The Sleepy Eye Economic Development Authority invites you to come and explore the opportunities for business investment and relocation in Sleepy Eye.
LOTS For Sale - City of Sleepy Eye
Financial Assistance Programs Available from the EDA

Brown County Business Assistance Grant

COVID-19 State Business Assistance Grant Funds Available            Application Link Here
New Ulm, MN – Brown County is excited to announce that funding has been received by the county from the State of Minnesota Department of Revenue for a business assistance grant program.
Businesses eligible to apply include:
  • Those affected by COVID-19 and Executive Orders
  • Preference will be given to businesses who have not received federal or state COVID-19 relief disbursements.
  • Businesses that did receive these funds but have not received enough to meet their needs and can demonstrate additional need are encouraged to apply.
  • Businesses will need to demonstrate a loss of 20% or more in revenue to be eligible.
  • Businesses will need to provide a completed application and attachments.
Applicants must submit a completed application by February 12, 2021.  Applications received after February 12, 2021 may be considered, depending on availability of funds.  Grant recipients will be notified by March 15, 2021.

State of Minnesota

Dept. of Employment and Economic Development (DEED)

Link to DEED Website

DEED Announces Small Business Loan Guarantee Program

See the link to DEED's website for loan details and to keep up to date with other state economic development news.

Unemployment Insurance

See the link to DEED's website for more information on applying for unemployment insurance

Dept of Human Services

Link to DHS Website

Peacetime Emergency Child Care Grants

This is a link to the DHS bulletin on the Peacetime Emergency Child Care Grant

EDA Financial Resources

Sleepy Eye is experienced in utilizing Tax Increment Financing (TIF) and obtaining funds from the Minnesota Department of Trade & Economic Development.  Our local banks are experienced in working with Small Business Administration programs.  There is no economic development project too big or small – give us a try! 
   The RLF is available to businesses either starting-up or expanding in the corporate city limits of Sleepy Eye.  The purpose of the RLF is to support business activities for which credit is not otherwise available on terms and conditions which would permit completion and/or the successful operation or accomplishment of the project in Sleepy Eye.
RLF Application link
SE EDA Business Rehab Loan Program Application
   This program is available to businesses located in the central business district of Sleepy Eye.  Eligible businesses can receive a forgivable loan for ½ of the rehabilitation project costs and a low interest loan for the remaining ½.  Businesses receiving assistance must undertake a program to improve the exterior of the building that may include new windows, siding, signs and awnings.
This program is for local businesses interested in signage or awning for their business. ​
General Outline of Documents Required to Secure Financing:
Most all financing packages require the entrepreneur or business owner to have a basic set of financial documents in order to secure financing.  We'll make every effort to make sure that your package is complete and flows from beginning to end.
Following is a list of items needed:
  • Business Plan Outline -  http://www.ntia.doc.gov/opadhome/mtdpweb/busplano.htm
  • Personal Financial Statement – http://www.sba.gov/sbaforms/sba413.pdf
  • 3 Years Historical Tax Returns, Business and Personal 
  • Assumptions to Financials
  • Pro-forma Cash Flow (2 Years), Pro-forma Income Statement (3 Years) and Pro-forma Balance Sheet (3 Years) Amortization Schedules
  • Cost Estimates (Bids are Preferred)
  • Financing Commitment Letters (If Secured)
  • Purchase Agreements (If Appropriate)
  • Other – Any other documents that would support your project.
​​Click The Document Below For Sample Pro-forma Financial Projections.
​Just fill in the blanks to get started - most all formulas have already been entered.
pro_forma_financial_projections_-_sample.xls
File Size: 48 kb
File Type: xls
Download File
Properties Available
Downtown
Industrial

Additional Financial Resources

  • Region 9 RLF  Gap type financing tool available to business start-up and expansions
  • Southern Minnesota Initiative Foundation RLF  Gap type financing tool available to business start-ups and expansions. 
  • Brown County Economic Development Partners RLF  Gap type financing tool available to business start-ups and expansions. 
  • Region 9 Micro Loan Program  This program is intended for business start-ups or expansions that cannot access capital through conventional means. 
  • Southern Minnesota Initiative Foundation Micro Loan Program  This program is intended for business start-ups or expansions that cannot access capital through conventional means.​
Links to:
Minnesota Department of Employment & Economic Development
http://www.positivelyminnesota.com
Small Business Development Center
https://www.myminnesotabusiness.com/
Region 9 Development Commission
http://www.rndc.org/
Southern Minnesota Initiative Foundation
http://smifoundation.org/ 
Minnesota Technology
http://www.minnesotatechnology.org/sitemap.asp 
GreenSeam
http://greenseam.org

Job Opportunity ​Building Zone (JOBZ)

http://www.revenue.state.mn.us/Pages/jobz.aspx
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Increase your businesses profits by relocating or expanding to Minnesota’s Job Opportunity Building Zones (JOBZ). 

Purpose ​

The EDA was created by City Resolution in 1990 to promote the economic well-being of our community.   Since its inception the EDA’s primary responsibility has been commercial and industrial development and redevelopment.    
The EDA administers various business incentives and other economic development measures aimed at creating or retaining quality jobs, increasing the tax base and encouraging private investment into the community. 
EDA Board Members: 
  • Kathy Haala - President
  • Mike Carr - Vice President
  • Gary Windschitl - Secretary/Treasurer
  • Casey Coulson
  • Mark Kober
  • Joe Schieffert
  • Joann Schmidt​
Advisory Members:
  • Christina Andres - Chamber of Commerce Director / City Council member
  •  Bob Elston - City Manager
  • Kurk Kramer - EDA Coordinator
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