Funding for Your Business

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Getting Started

What lenders look for in start-ups (PDF) – overview from a lenders point of view. 

Loan Checklist (PDF) – every lender has different requirements, be sure and contact your lender prior to the meeting and obtain an outline of required documentation.

Securing funds for your start-up business (PDF) – overview of equity building strategies and debt financing alternatives. 

Glossary of Loan Terms (PDF) – overview of loan types.

Annual Credit Report – offers a free credit file disclosure, commonly called a credit report, once every 12 months from each of the nationwide consumer credit reporting companies: Equifax, Experian and TransUnion.

Consumer Credit Counseling – LSS Financial Counseling services include; budget counseling, debt and credit help, housing counseling, financial education and bankruptcy services.

Funding Sources for Your Business

Headwaters Regional Finance Corporation – gap financing to new and expanding businesses.

Initiative Foundationprovides business, technology, green business, small business and seed investment loans.

Metropolitan Economic Development Association (MEDA) (PDF)

Midwest Minnesota Community Development Corporation (MMCDC)

Milestone Growth Fund – venture capital for minority owned businesses.

Mille Lacs Band of Ojibwe Small Business Development Program (PDF)

Minnesota Chippewa Tribe Finance Corporation Loan Fund (PDF)

The Minnesota Indian Business Loan Program (PDF)

Office of Indian Energy and Economic Development (IEED) (PDF)

NE Entrepreneur Fund – start-up and existing business loans.

Neighborhood Development Centers Small Business Loans (NDC) (PDF)

Northland Foundation – business loans, royalty investments and loan guarantees.

Northwest Minnesota Foundation –business, equity and entrepreneur development loan funds.

Northwest Regional Development Commission - low interest financing to create, expand and retain businesses in the area.

Region Five North Central Economic Development Association, Inc.Revolving loan fund

SBA Lenders - Listing of MN banks who handled SBA loan packages. (PDF)

Southern Minnesota Initiative Foundation – small enterprise and revolving loan fund.

Southwest Initiative Foundation – provides microenterprise and revolving loans.

WomenVenture Business Loans (PDF)

West Central Initiative – small enterprise, business and industry, childcare and component fund loans.

White Earth Investment Initiative (PDF)

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