There are many loan programs designed to assist Moorhead based companies succeed. They range drastically from the SBA Microloans designed to help start-ups to the Minnesota Job Creation Fund designed to help promote job growth within the community. No matter your circumstance, there is a loan available to assist you. Please look through the following loans to discover if one fits you.
Minnesota Investment Fund
This fund can provide gap financing for businesses in the industrial, manufacturing and technology related industries. Loans are made for land, building, equipment and infrastructure necessary to support business expansions. Maximum loan of $500,000 available.
Business and Industry Loan
This program runs through West Central Initiative and provide gap financing for primarily manufacturing companies. Loans may be made for real estate, machinery and equipment and working capital. Maximum loan of $300,000 available.
This program is run by the Small Business Association in order to give loans to small businesses who were unable to get a loan on their own. The SBA makes funds available to nonprofit community based lenders which, in turn, make loans to eligible borrowers. Loans cannot be used to purchase working capital or refinance. Maximum loan of $50,000 available.
SBA 504 Loan
This program is run by the Minnesota Business Finance Corporation and Small Business Association. It is designed to stimulate private sector investment by providing assistance for small business expansions. Maximum loan of $5 million is available.