Business Financing
| Business Financing | ||
| Statewide | ||
| Angel Loan Fund Program Department of Employment and Economic Development (DEED) New funding option for businesses certified to participate in Minnesota's. Angel Tax Credit Program. Loans up to $250,000; 0% interest; deferred 7 year loan term w/ balloon payment; must be eligible for Angel Tax Credit. |
Angel Tax Credit |
Emerging Entrepreneurs DEED Supports micro-enterprises and small businesses with fewer than 50 employees, targeting minority- and women-owned businesses and those located in economically distressed areas. |
| MN Reservist & Veteran Business Loan Program DEED Provides business loans to companies that are affected when certain employees are called to active military duty and to individual veterans who have returned from active duty and want to start their own business. |
Minnesota Investment Fund
|
Job Creation Fund DEED Provides financial incentives to new and expanding businesses that meet certain job creation and capital investment targets. |
|
R&D Tax Credit Program |
Greater MN Job Expansion Program DEED Sales tax refunds for 7 years to existing businesses expanding in Greater Minnesota. |
Work Opportunity Tax Credit |
|
SBIR-STTR Funding for High-Tech Companies
|
Minnesota Foreign Trade Zones DEED Store goods, assemble products, manufacture or re-export goods without paying Customs duties. |
Innovation Voucher Program |
| SBA 504/REAL Loan SBA/Participating Lenders Provides growing businesses with long-term, fixed-rate financing of up to $5 million for major fixed assets such as land, buildings, machinery and equipment. |
SBA 7 (a) Loan SBA/Participating Lenders Includes financial help for businesses with special requirements. 7(a) loans have a maximum loan amount of $5 million. |
SBA Microloan Program SBA/Participating Lenders Loans up to $50,000 to help small businesses and certain not-for-profit childcare centers start up and expand. The average microloan is about $13,000. |
| SBA Disaster Loan Program SBA/Participating Lenders Low-interest loans to repair or replace the following items damaged or destroyed in a declared disaster: real estate, personal property, machinery and equipment, and inventory and business assets. |
Rural Business Enterprise Grant |
Intermediary Relending Program USDA Provides 1% low-interest loans to local intermediaries that re-lend to businesses and for community development projects in rural communities. |
| Rural Economic Development Loan and Grant Program USDA Under the REDLoan program, USDA provides zero interest loans to local utilities which they, in turn, pass through to local businesses (ultimate recipients) for projects that will create and retain employment in rural areas. |
Rural Microentrepreneur Assistance Program USDA Loans and grants to Microenterprise Development Organizations to:
|
|
| Twin Cities Metro | ||
| Small Business Loan Neighborhood Development Center For existing businesses, loans from $50,000 - $250,000 for working capital, inventory, equipment or real estate. NDC has 7a/SBA Guaranteed Loans. |
Contractor Financing Neighborhood Development Center For startups and existing small businesses, loans up to $50,000. |
Micro Loan Neighborhood Development Center Loans to cover costs of performing on a specific contract. |
| Credit-building loan Neighborhood Development Center Strengthen credit scores. |
Small Business Loan Metropolitan Economic Development Association Businesses must be owned and controlled by entrepreneurs of color. Minimum loan amount is $25,000. Loans more than $400,000 require a higher bank participation. |
Small Business Loan Women Venture Provides SBA loans up to $50,000 to qualified borrowers to launch or grow small businesses. Our consultants guide applicants through the process to determine readiness and qualifications. |
| Loans for New and Emerging Businesses Metropolitan Consortium of Community Developers Direct loans aimed for a variety of business purposes, including inventory, working capital, asset and equipment purchases, and start-up costs. Loans sizes up to $25,000 for retail/service businesses, or $50,000 for manufacturing businesses. |
Loans for Second Stage and Growing Businesses Metropolitan Consortium of Community Developers Loans greater than $50,000 are targeted at businesses that have been operating for several years and need financing to grow. |
Gap Financing for Real Estate Metropolitan Consortium of Community Developers Loans in partnership with private lenders to provide gap financing for real estate acquisition projects including projects financed through the SBA 504 program. |
| Acquisition Financing for Real Estate Metropolitan Consortium of Community Developers In partnership with private lenders, provides permanent term financing for commercial real estate acquisition. |
Transactional Financing Metropolitan Consortium of Community Developers Provides short term loans for businesses whose cash flow cycle inhibits them from making regular monthly loan payments. |
Technical Assistance and Financing African Development Center We offer both traditional and alternative/profit-based financing terms. Total finance packages range from $5,000 to more than $250,000 per client. |
| Microenterprise Loans Latino Economic Development Center Start or expand very small businesses. Minimum loan amount is $2,000; maximum loan amount is $25,000. |
CREDO (Community Real Estate Development Opportunities) Latino Economic Development Center Purchase or improvement of real estate by growing businesses. Minimum loan amount is $25,000; maximum loan amount is $125,000. |
Cooperative Loans Latino Economic Development Center Start or expand a cooperative enterprise. Minimum loan amount is $4,000; maximum loan amount is $25,000. |
| Co-op Member Share Loan Latino Economic Development Center Finance the purchase of a share in a co-op by an existing or proposed co-op member. Minimum loan amount is $2,000; maximum loan amount is $10,000. |
||
| Northwest MN | ||
| Gap Financing Program Northwest Minnesota Foundation A gap lending program, projects require primary lending by a bank. Loans up to $150,000 for new start-ups and $300,000 for expansions. |
Product Development Loan Northwest Minnesota Foundation Loans are available to new products with an emphasis on new technologies. |
Entrepreneur Development Program Northwest Minnesota Foundation NMF staff provides technical assistance and financing to individuals who want to start a business or persons wanting to expand an existing business. |
| Southwest MN | ||
| Business Finance Loan Program Southwest Initiative Foundation Eligible projects must create or retain jobs that provide a livable wage with benefits, generate new wealth for the region and diversify the economy of southwest Minnesota. The maximum loan amount is $50,000. |
Microenterprise Loan Program Southwest Initiative Foundation Customized support for entrepreneurs through ongoing technical assistance. The maximum loan amount is $50,000. |
|
| Northeast and North Central MN | ||
| Business Finance Program Northland Foundation Two types--direct loan and participation loan. Business loans generally range from $50,000 to $500,000. |
Financing Resources Entrepreneur Fund Fund your business growth, acquisition, working capital, or other needs with creative financing up to and exceeding $250k. |
Business Assistance Iron Range Resources and Rehabilitation Board (IRRRB) Whether you're establishing a new business or looking to expand, we have the financial tools, dedicated support, and local resources to get you there. |
| West Central MN | ||
| SELF Small Enterprise Loan Fund West Central Initiative Foundation Loans from $1,000 to $35,000, and includes smaller loans to businesses in the manufacturing or service sectors. |
Business and Industry Loan Fund West Central Initiative Foundation The Business and Industry Loan Fund is used for loans from $20,000 to $300,000. Most of the loans in this fund are given to manufacturing businesses. |
Access to Capital Loan West Central Initiative Foundation WCI will match bank loan amount up to $75,000. 100% LTV subordinated. |
| Childcare Loans West Central Initiative Foundation The maximum loan under this program is $3,500. These loans are to help child care providers obtain or maintain licensure from their country regulating agency. |
||
| Central MN | ||
| Direct Business Loan Fund Initiative Foundation Provides up to $500,000 for value-added agriculture and manufacturing companies that bring new revenue to communities. |
Technology Capital Fund Initiative Foundation Provides up to $500,000 for emerging high-tech ventures and technologies that increase productivity. |
Green Business Loan Fund Initiative Foundation Provides up to $500,000 for businesses that preserve the environment, reduce energy demands or recycle existing waste streams. |
| Lender Match Loan Fund Initiative Foundation Provides up to $75,000 for manufacturing, technology, wholesale and other businesses. |
||
| Southeast MN | ||
| Business Loan Fund Southern Minnesota Initiative Foundation Targets six key industries: bioscience, renewable energy, food/agriculture, manufacturing, technology, and health care. Loans will be considered up to $200,000; cannot exceed 50 percent of the total project cost. |
Small Business Enterprise Loan Fund Southern Minnesota Initiative Foundation These loans support small business owners or start-up entrepreneurs who create service, retail, local foods, and manufacturing businesses. $2,000 to $35,000 loan amounts. |
Building Blocks Loan Fund Southern Minnesota Initiative Foundation Financial resources and technical assistance to help expand or enhance licensed child care businesses. Loan size: from $1,000 - $15,000. |
| Local Foods Loan Fund Southern Minnesota Initiative Foundation Supports the start-up or expansion of businesses engaged in locally or regionally produced agricultural food products. Loan dollars can be used to purchase inventory, supplies, machinery/equipment, or used for working capital. |
Seed Fund Southern Minnesota Initiative Foundation Supports start-up stage businesses that need capital, business expertise, and networking opportunities. Helps companies perform research and analysis, patent opinions and filings, and product testing and analysis. Investment amounts up to $25,000. |
Southern Minnesota Equity Fund Southern Minnesota Initiative Foundation Financial capital and expertise to early stage and start-up companies. Maximum initial investment of $100,000, eligible for follow-up investments. |
