SWIF has helped more than 640 businesses start or expand through its business
finance programs. Perhaps your business or employer is a past loan client. Here’s a recap of how our active Business Finance and Microenterprise Loan programs supported businesses during our past fiscal year, which just ended June 30.
- Business Finance closed 14 loans totaling $2,081,900. Loan amounts ranged from $8,400 to $750,000; several loans were around $100,000. SWIF is definitely serving its mission and helping fill the “gap” for business financing.
- Microenterprise program closed an additional 26 loans totaling $469,400. These small business owners also receive customized support in the form of technical assistance and training as needed for the length of the loan.
- That’s a total of more than $2.5 million in loans to business in southwest Minnesota. SWIF has been making business loans since the very beginning, in 1986. At year-end we had 160 open loans with a total balance of more than $10.8 million. These are real dollars going to work in our southwest Minnesota businesses!
SWIF is helping to create and retain jobs, help entrepreneurs realize their dreams of owning their own business and helping existing businesses stay competitive in southwest Minnesota.
