Loans

For the past 21 years, the Southwest Initiative Foundation has supported regional business growth by providing gap-financing loans for new and expanding businesses within the 18 counties of southwest Minnesota.  The Foundation offers a variety of loan options to help sustain and grow business throughout the region, including three new loan programs, the Renewable Energy Loan Program, Regional Centers Loan Program and Small Communities Loan Program, created in Fiscal Year 2007.  

Financing from all loan pools supplements the dollars provided by financial institutions and investors and strengthens financial packages. Financing is intended to complement, not compete with, traditional financing sources.  The Foundation will not participate in a project that can be solely financed through traditional sources, and it actively solicits and promotes partnerships with financial institutions in all projects. Read about the impact of one SWIF loan below.

SWIF Loan Funding Aids Business Relocation

 
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Feedlogic Corporation

 

For a business dedicated to providing innovative and efficient feeding technology to livestock producers, being located in the heart of an agricultural region just makes sense. 

Add to that a renovated campus facility ready to welcome an array of high-tech businesses, and you have a nearly perfect fit for Feedlogic Corporation.

Feedlogic Corporation provides a unique combination of high-tech products and services in the feed intensive hog production industry and others.  According to Perry Nelson, PALS sales representative, approximately 12 million of the 61 million hogs raised in the United States are raised within 200 miles of Willmar.  He said it is very near to the highest concentration of hog production in the world, as well as a hu

"About a year ago, we decided to move Feedlogic from the Pacific Northwest to the Midwest to be closer to our customers,” said Drew Ryder, Feedlogic Corporation founder and president.  “We visited several states but selected southwest Minnesota as our new corporate home because of its skilled and hard-working people, as well as the economic assistance provided by the Southwest Initiative Foundation (SWIF) and other financial institutions.”

The Foundation awarded a loan to Feedlogic Corporation associated with their relocation to Willmar.  The loan was awarded through SWIF’s Revolving Loan Fund, which supports small business growth throughout the 18-county southwest Minnesota region.  Eligible businesses must create and retain quality jobs by generating new wealth and adding diversity to the regional economy. 

Larry Erickson, Feedlogic Corporation vice president, said to attract technology businesses, communities must understand that they are different than the traditional manufacturing and service businesses.  Quality information infrastructure like the internet, telecommunications and library resources is especially key.  He, is pleased with Feedlogic’s new location.  “We’re here among like-minded people,” Erickson said.

“Our new home at the MinnWest Technology Campus in Willmar provides us with access to the information technology and engineering resources we need to grow,” Ryder said.  “We look forward to helping make southwest Minnesota the preferred place for technology professionals to live and work.”

 

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