Designed to provide loans, education and technical assistance to entrepreneurs and those seeking self-employment opportunities.
The Southwest Initiative Foundation’s (SWIF) Microenterprise loan program helps entrepreneurs develop small businesses and self-employment opportunities in southwest Minnesota. This loan program provides customized support for entrepreneurs through ongoing technical assistance and training as needed for the length of the loan. The technical assistance is provided by SWIF staff and includes:
Pre-loan
- Business planning
- Cash flow analysis
- Market research
Post-loan
- QuickBooks training
- Business operations
- Understanding & working through applicable government rules & regulations
- Developing and executing a marketing plan
Eligible businesses may be start-up or expansion projects including—but not limited to—manufacturing, service, retail and daycare. Loan funds may be used for start-up costs, equipment, inventory, furniture and fixtures, working capital and real estate. The maximum loan amount is $50,000.
In addition to SWIF’s 18-county southwest Minnesota service area, the Microenterprise Loan Program also serves Benton, Carver, Sherburne, Stearns and Wright counties.
Contact the SWIF Microenterprise Loan Program at 800-594-9480, 320-587-4848 or loans@swifoundation.org for more information.
