Business Financing

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.
Capital Access Program
DEED
Encourages banks, credit unions, and community development finance institutions operating in Minnesota to make loans that fall just outside the lenders' normal underwriting standards.
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.
     
Small Business Development Loan Program
DEED

Loans up to $5 million for business expansions that result in the creation of new jobs.

Minnesota Investment Fund
DEED
The Minnesota Investment Fund provides financing to help companies expand, add workers and retain high-quality jobs.

 

 

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
DEED
Equal to 10 percent of qualifying expenses up to $2 million for certain R&D activities.

Greater MN Job Expansion Program
DEED
Sales tax refunds for 7 years to existing businesses expanding in Greater Minnesota.

Work Opportunity Tax Credit
DEED
The Work Opportunity Tax Credit (WOTC) is a federal tax credit available to all businesses as an incentive to hire workers in certain groups.

     

SBIR-STTR Funding for High-Tech Companies
SBA/DEED/MHTA
Small Business Innovation Research and Small Business Technology Transfer programs.

 

Minnesota Foreign Trade Zones
DEED
Store goods, assemble products, manufacture or re-export goods without paying Customs duties.

Innovation Voucher Program
DEED
Helps small businesses bring innovative new products and services to market. (Limited funds available)

     
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
USDA

Funds projects that facilitate the development of small and emerging rural businesses, distance learning networks, and employment-related adult education programs.

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:
  • Provide microloans for microenterprise startups and growth through a Rural Microloan Revolving Fund
  • Provide training and technical assistance to microloan borrowers and micro entrepreneurs
 
     
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.