Minnesota Small Business Loan Guarantee Program
The Minnesota Department of Employment and Economic Development (DEED) has established the Minnesota Small Business Loan Guarantee Program in response to the COVID-19 epidemic.
The program will help lenders provide capital to small businesses in Minnesota. The loans must be used exclusively in Minnesota and allowable uses include machinery or equipment purchases, maintenance, or repair; expenses related to moving into or within Minnesota; and working capital when the working capital is secured by fixed assets when possible.
The funds can only be provided to Minnesota businesses with fewer than the equivalent of 250 employees. The number of employees includes parent company and all locations. The program will provide an 80% guarantee up to a maximum of $200,000. A fee of .25 percent on the guarantee loan principal will be charged for each loan enrolled into the program.
If you would like to learn more about this program or would like to apply, please send us an email at email@example.com or complete the form below.