Areas Served: Statewide Minnesota
In a tight economy, access to financing for operations and expansions is especially important for minority business stability and growth.
MEDA’s Loan Program helps clients by providing access to funding which otherwise might not be available through traditional lending resources.
MEDA consultants can assist in developing a loan package to present to potential funders, which may or may not include the MEDA loan program.
In every circumstance, MEDA looks for the very best rates and terms for our clients.
KEY PROGRAM FEATURES: – Businesses must be owned and controlled by entrepreneurs of color.
– Loan clients are encouraged to work with MEDA business consultants.
– The Program works in participation with your existing bank.
– Minimum Loan amount is $25,000. – Loans more than $400,000 require a higher bank participation.
Proceeds can be used for: – Working capital – Lines of credit – Business equipment – Franchise fees – Build out – Business acquisition – Project financing
Contact InformationMinnesota Department of Employment and Economic Development
Address: 250 Second Avenue South, Suite 106
City: Minneapolis
State: Minnesota
Website:
http://www.meda.net/services/financing.html
Leave a Reply