Public and Private Financing Resources

Commercial Rehab Forgivable Loan Program – Windom EDA

A Forgivable Loan Program available to all commercial businesses in Windom.

• 1/3 Paid by Business
• 1/3 Forgivable Loan
• 1/3 Repayable Loan

Cottonwood County Seep Capital Fund

Funds to assist investors or existing businesses in the first stages of the development of a new product.  Eligible applicants may be either start-up businesses or expansion projects in Cottonwood County.

The type of businesses include, but are not limited to, those engaged in:

• Technologically innovative industries
• Value added manufacturing
• Agriprocessing
• Information industries
• Agricultural marketing
• Tourism
• Diversified industries
• Unique Services
• Non-competitive retail development
• Projects that support economic development

Southwest Initiative Foundation

The Southwest Initiative Foundation enhances the economic vitality of Southwest Minnesota by providing four specialized loan programs.

The Direct Business Loan Fund helps central Minnesota companies create or retain quality jobs by filling gaps in business financing packages. Targeted industries include value-added agriculture, natural resource-based manufacturers, and industries utilizing technology in manufacturing processes. Loans range from $50,000 to $250,000.

The Technology Capital Fund invests in two types of enterprises: entrepreneurs launching emerging technology ventures and established companies integrating proven productivity applications into their business operations. Investments range from $50,000 to $500,000.

The Seed Capital Fund advances emerging entrepreneurial ventures by financing product concept, development and market research. In return for investments up to $50,000, the Initiative Foundation negotiates company equity or royalties that reflect the incurred risk.

The Microenterprise Loan Guarantee Fund increases local ownership or expansion of small businesses — especially among underserved populations. It targets women, minorities, young adults and people with low net worth, but funds other applicants as well. The fund protects banks and lenders against loan default by underwriting up to $50,000 through a simple guarantee contract.

Microenterprise Loan Program – Southwest Initiative Foundation

Bright Beginnings Loan Program

Invest in our kids by equipping quality child care providers

Designed to support the business of child care by providing capital and business education to those starting or expanding licensed child care (either home or center based) businesses in southwest Minnesota.

Commercial Lenders – Local Financing Options

USDA

USDA Rural Development operates over fifty financial assistance programs for a variety of rural applications. Select a category that best describes your situation, and see what RD can do to assist you. We also offer a list of all programs.

Department of Employment and Economic Development

Starting. Managing. Growing. At any stage, DEED has the right tools and expertise to help you succeed

Prairieland– Providing Creating Solutions for Small Businesses

As a non-profit organization, Prairieland EDC seeks a solution to small businesses needs. This is accomplished both with Prairieland EDC’s lending programs and through the utilization of outside programs by simply requesting the technical expertise of the Prairieland EDC staff.

Staff works directly with the lender and the small business to best understand their goals and to detail the options available to them, for example by:

• Providing on-site financial analysis and business counseling
• Structuring the business project and developing appropriate financing packages
• Assisting with the packaging, processing, closing and servicing of loan programs
• Coordinating the entire lending process
• Working in confidentiality with the private business
• Working directly for small business

Additional Information