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 readiness
Kiva cares about your character, not your credit score.
Kiva cares about your character, not your credit score.Kiva.org is a nonprofit that enables passionate and determined entrepreneurs to access 0% interest small business loans. They establish their reputation and community of support by inviting lenders from their network to make a loan online. It’s a loan—so that means they repay all of their lenders.
This is called crowdfunding and it directly involve friends, family, community members and beyond. The idea is based on small loans making a big impact in the lives of business owners and the communities in which they live.
Southwest Initiative Foundation partnered with Kiva to provide their crowdfunding opportunity to southwest Minnesota.
It’s used with our microloan program when there’s a good fit with our client’s business.
Lenders (anyone) can log into the Kiva website at www.kiva.org and search for a business project and loan $25 at a time. Lenders can loan more if they like, but the idea is to promote the idea on social media sites which will provide an opportunity for others to get involved in the project.
Questions?
Call us at 800-594-9480 or 320-587-4848 or email our loan team.
