A commercial loan in Minnesota can help you get a head start on funding your business. One of the first things you need to consider when opening or expanding any company with a physical presence is the location where the company needs to be situated.
Commercial property confuses some buyers, who aren’t sure what types of real estate are covered by the term. Commercial real estate consists any type of property that is used to generate revenue, such as an apartment building, multi-family unit, office, restaurant, auto services building, bed-and-breakfast, campground or RV park, mobile home park, retail space, self storage compound, convenience store, gas station, light industrial building, marina, mixed use property, warehouse, health care center, hotel, or motel.
Minneapolis, St. Paul, Rochester, Duluth, and Eden Prairie are among the most influential and important cities in Minnesota, and it’s here that you’ll find the most commercial real estate available in the state. If you have a plan to start a business in any of these areas or elsewhere in the state, contact a local lender to determine your best course of action. You’ll likely be able to finance your property purchase with a commercial loan.
Roughly 60% of all Minnesotans live in the Minneapolis-St. Paul metropolitan area. St. Paul boasts the nation's largest mall, known as the Mall of America, with 520 stores and an indoor amusement park. Twin Cities, as St. Paul and Minneapolis together are known, is home to both a thriving business community and a major arts center.
Target, United Health Group, 3M, Medtronic, and Best Buy all have their headquarters in Minnesota. Although less than 1% of the population is employed in the agricultural sector, the state remains a major player in the agricultural field. Attendance at theatrical, musical, and comedy events in the area is strong, which may be attributed to the cold winters and the diverse culture of the area.
For those who enjoy both work and play, Minnesota is the right state for you. Lender411 can help you find thebest commercial mortgage rates.