Loan Programs Update
Thank you for your interest in our loan programs! We’re experiencing a historic level of demand from entrepreneurs pursuing their dreams—whether launching a startup, expanding a business, or planning for succession. More than 20 percent of our total lending volume from the past 39 years is currently active in our portfolio. That’s a remarkable milestone, and we’re honored to be part of so many journeys.
Not accepting new loan applications at this time
Due to this unprecedented volume, temporarily pausing all new loan inquiries and additions to our waiting list until further notice. Our focus will be on supporting current borrowers and finalizing applications already in progress. We understand this may be disappointing, and we sincerely apologize for any inconvenience this may cause.
Resources for entrepreneurs
While we’re unable to take on new loan applications at this time, there are other organizations that may be able to assist you:
We appreciate your understanding and look forward to re-engaging with new applicants in 2026. In the meantime, we celebrate the incredible momentum of entrepreneurs across our region!
Microenterprise Loans
Do you have a dream of starting your own business in southwest Minnesota? Or maybe you’re looking to expand an existing one? Our microloan program can help!
We provide business loans and technical assistance to entrepreneurs like you, so you can turn your vision into reality. Whether you need equipment, inventory, working capital or real estate, we have flexible funding to fit your needs. Entrepreneurs in our 18-county region plus the counties of Benton, Carver, Sherburne, Stearns and Wright can apply for a business loan through our microloan program.
Microloan Terms
- Maximum loan amount is $50,000.
- All loans are collateralized with business or personal assets.
- Borrowers will be responsible for all loan fees, including a one percent origination fee on loans of $10,000 or more.
Technical Assistance
You’ll get customized support for the life of your loan, which can include:
- Accounting software training
- Business operations and marketing training
- Understanding and working through government regulations
Child Care Loans
Our microloan team works with First Children’s Finance to offer the Bright Beginnings program, helping licensed home and center-based child care providers in southwest Minnesota access both funding and expert guidance. This program provides flexible loans to cover your needs, from start-up costs to expansion plans. Plus, you’ll receive ongoing support and advice from our team of specialists throughout the loan period.
Eligibility and Use of Funds
- Start-up or expansion expenses
- Code requirements
- Repairs, renovations or upgrades
- Educational toys and materials
- Playground equipment
- Curriculum
- Licensing
Our microloan program receives funding assistance from the U.S. Small Business Administration and U.S. Department of Agriculture.