Areas Served: Benton, Cass, Chisago, Crow Wing, Isanti,Kanabec, Mille Lacs, Morrison, Pine, Sherburne, Stearns, Todd, Wadena and Wright counties
The Direct Business Loan Fund is designed to help central Minnesota companies create or retain quality jobs by filling gaps in business financing packages.
Targeted industries include manufacturing, technology-based business sectors and value-added agriculture.
For business start-up and expansion projects, Initiative Foundation business financing programs meet the gap between the financing a local lender is able to provide and the equity the owner is able to contribute.
Financial participation by a local lender is required.
Investment Amount: $50,000 to $250,000 Eligible Investments – Operating capital – Fixed assets, land and buildings – Construction or leasehold improvements – Acquisition, renovation or installation of machinery and equipment – Limited refinancing, when necessary to consolidate debt
Contact InformationInitiative Foundation
Address: 405 First Street SE
City: Little Falls
State: Minnesota
Website:
http://www.ifound.org/business_direct.php
Leave a Reply