Whether your business is large or small, we leverage resources and connections to help you grow and improve.
Business Finance Program
For-profit businesses operating within our 18-county service area may be eligible for the Business Finance Program. Eligible projects must create or retain jobs that provide a livable wage with benefits, generate new wealth for the region and diversify the economy of southwest Minnesota. Business Finance loans may be used for machinery and equipment, inventory, working capital and real estate. The maximum loan amount is typically $150,000. Loan amounts up to $300,000 are available for projects in the following asset sectors: renewable energy, food and agriculture, bioscience and manufacturing.
For more information, contact:
Amy Woitalewicz
Business Finance Director
(320) 583-9203
Email Amy
How to Start
Applicants should contact us early in the project development stage to discuss how we can be a partner.
Microenterprise Loan Program
Our microloans help entrepreneurs develop small businesses and self-employment opportunities. The microenterprise loan program provides customized support for entrepreneurs through ongoing technical assistance and training for the length of the loan. Eligible businesses may be start-ups or expansion projects. The maximum loan amount is $50,000.
As a Microenterprise Loan Program client, you will have 24/7 access to customized how-to videos, quick references and favorite resources to supplement your small business success through Initiate Prosperity: Powered By Southwest Initiative Foundation. Initiate is intuitive and will update your personal dashboard with recently visited resources, and recommended resources based on your history.
For more information, contact:
Jackie Turner
Economic Development Officer
320-583-2180
Email Jackie
How to Start
Complete the Business Readiness Tool and submit your answers. Once received, our team will determine if you fit this program and walk you through next steps. Another great resource is our list of 10 steps to starting your own business.
Test your business readinessBright Beginnings Loan Program
Bright Beginnings is all about the business of child care. This program is designed to provide capital and business education to home or center-based licensed child care providers in southwest Minnesota. Technical assistance is provided during the life of the loan through a partnership with First Children’s Finance.
Bright Beginnings Loans have a 3 percent fixed interest rate. Loan security is dependent on available collateral. Loans up to $15,000 are available.
For more information, contact:
Jackie Turner
Economic Development Officer
320-583-2180
Email Jackie
Use of Funds
A Bright Beginnings Loan can be used for any of the following child care expenses:
- Start-up or expansion expenses
- Code requirements
- Repairs, renovations or upgrades
- Educational toys and materials
- Playground equipment
- Curriculum
- Licensing
