MNCore

SWIF Logo
  • Home
  • Classes
  • Resource Tools
    • 10 Steps to Starting Your Own Business
    • Legal Advice
    • Succession Planning
    • Managing Risk with Insurance
    • Tools for Re-financing
    • Working Through Times
    • Social Media Breakfasts
  • FAQs
  • Contact Us

Microenterprise Loan Program

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.

Technical Assistance

  • QuickBooks and financial management training
  • Business operations
  • Understanding & working through applicable government rules & regulations
  • Business marketing training
  • Exclusive access to an on-line business resource portal with interactive tools, templates, videos and guides

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.

Loan Terms

  • 6.5% fixed interest rate
  • Up to 10 years for real estate and up to six years for equipment
  • Maximum loan of $50,000
  • All loans are collateralized with business or personal assets
  • Borrower is responsible for loan filing and loan closing fees
  • Program requires equity into project
  • Program requires a personal guarantee from borrower

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.

Recent Facebook Posts

No recent Facebook posts to show

Find us on Facebook

News & Events

Gauge Your Readiness!

Entrepreneurs need to know their options. To begin … Read More...

Emery’s Truck and Trailer Repair is open in Montrose

Justin Emery and Kimberly Johnson recently … Read More...

Phone

(320) 587-4848

Email

info@mncore.org

Links

  • Home
  • Classes
  • Resource Tools
    • 10 Steps to Starting Your Own Business
    • Legal Advice
    • Succession Planning
    • Managing Risk with Insurance
    • Tools for Re-financing
    • Working Through Times
    • Social Media Breakfasts
  • FAQs
  • Contact Us

Follow Us!

Follow Us!

A Program Of

SWIF Logo
Copyright © 2019 • Southwest Initiative Foundation, an equal opportunity provider and employer | Privacy Policy | Developed by Vivid Image • Log in