• Business Loans: Loans of up to $200,000 targeting several key industries (manufacturing, technology, local foods, agriculture and health care).
• Building Block Loans: Loans of up to $15,000 to help support, expand or enhance the business of a licensed family child care businesses.
• Emerging Entrepreneur Loan Program (EELP):  Loans of up to $15,000 to support minority entrepreneurs who identify as Black, Indigenous or People of Color (BIPOC), women, veterans, persons with disabilities or low-income.
• Small Enterprise Loans: Micro loans up to $35,000 provided through a partnership with the SBA to support small business owners or start-up entrepreneurs who create service, retail, local foods, and manufacturing businesses.
• Grow A Farmer Loan: Up to $15,000 to provide lower-interest loans to support small-scale farmers beginning or expanding their operations in underserved segments of the farming population.

• Seed Funds: Up to $25,000 to support start-up stage businesses that need capital, business expertise, and networking opportunities. This fund helps companies perform research and analysis, patent opinions and filings, and product testing and analysis.
• Southern Minnesota Equity Fund: Up to $100,000 in financial capital and expertise to early stage and start-up companies. The Fund partners with other organizations and individual investors to leverage capital and expertise to grow innovative companies who will provide economic opportunities for Southern Minnesota.

• SCORE Small Business Administration Homepage
• SE MN SCORE Facebook

• SE MN SBDC Facebook

• RAEDI Facebook

• Launch Minnesota Facebook
• Launch Minnesota Applying for the Grants (DEED webpage)

Minnesota Job Creation Fund
The Minnesota Job Creation Fund program provides financial incentives to new and expanding business that meet certain job creation and capital investment targets. Companies deemed eligible to participate may receive up to $1 million for creating or retaining high-paying jobs and for constructing or renovating facilities or making other property improvements. For extremely large projects, companies may be eligible to receive up to $2 million. Award amounts depend on job creation and investment levels.

The program is available to businesses engage in select industries including manufacturing, warehousing, distribution and technology-related industries, among others. Businesses submit an application which must include local government supporting documents. Projects that begin prior to becoming designated by DEED are not eligible for the Job Creation Fund. Visit their website for a full list of requirements, eligibility, available benefits, application materials, and more.

Minnesota Reservist and Veteran Business Loan Program
This program provides loans to companies that are affected when certain employees are called to active military duty. It also gives loans to individual veterans who have returned from active duty and want to start their own business. The program provides one-time interest-free loans of $5,000 to $20,000. 

Business loans are for existing small businesses that have an essential employee called to active service in the military reserves for 180 days or longer on or after September 11, 2001. The business must be injured substantially due to the employees absence. Startup loans are for veterans who were on active duty on or after September 11, 2001 seeking financial assistance to start their own business. 

Angel Tax Credit
Minnesota's Angel Tax Credit provides a 25% credit to investors or investment funds that make equity investments in startup companies focused on high technology, new proprietary technology, or a new proprietary product, process, or services in specified fields. Investors, funds, and businesses must be certified by MN DEED in order to participate in the program. Key features of the Angel Tax Credit include:

• A 25% tax credit for investments in small, emerging businesses
• A maximum credit of $125,000 per person per year
• A state refund if credits exceed tax liability
• Focus on high-tech businesses or those with a proprietary product, process, or service in select industries

Apply online and find complete program information at the link above.

Greater Minnesota Job Expansion Program
The Greater Minnesota Job Expansion Program provides tax benefits to businesses located in Greater Minnesota that increase employment. Qualifying businesses that meet job-growth goals may receive sales tax refunds for purchases made during a seven-year period. To become certified to participate in the Greater Minnesota Job Expansion Program, a business must meet the following qualifications:

1. Increase employment at the business's facility by a minimum of two full-time equivalent (FTE)  employees or 10% of the current number of employees, whichever is greater, within three years
2. Pay compensation, which includes wages and benefits not mandated by law, which on an annualized basis equals at least 120% of the federal poverty level for a family of four, to all employees at the business' facility (see website for annual amounts)
3. Be in operation for at least one year within a city, or a county if an agricultural processing facility, in Greater Minnesota, which generally excludes the seven county metropolitan area
4. Meet prevailing wage guidelines at the business facility if a construction or improvement project is undertaken and if the business is awarded a sales tax refund (about prevailing wage requirements)
5. Does not sell goods or services primarily to local markets; the program is for businesses with sales and customers primarily outside Minnesota (i.e. the business is in a "traded sector")

There are further conditions listed on the Greater Minnesota Job Expansion website. To help determine if your business is eligible, fill out the initial assessment form. If you can answer 'yes' to all the questions on the initial assessment form, you may be eligible for the program.

Research and Development Tax Credit
If your business paid certain research and development (R&D) expenses in Minnesota, you may qualify for the Credit for Increasing Research Activities. The R&D credit is equal to 10 percent of qualifying expenses up to $2 million, and 2.5 percent for expenses above that level. Qualifying expenses are the same as for the federal R&D credit - defined in Section 41 of the Internal Revenue Code - but must be for research done in Minnesota.

Examples include R&D-related wages, supplies and research contracted outside your business. Contributions to qualified nonprofit organizations that make grants to early-stage technology businesses in Minnesota also may qualify.

MN DEED Training Grant Programs
MN DEED offers grants through a variety of programs to offset training-related expenses incurred by businesses to develop new-job training or retraining for existing employees. 

• Partnership Program: Provides grants of up to $400,000 to educational Institutions that partner with businesses to develop new-job training or retraining for existing employees.
• Pathways Program: Provides grants of up to $400,000 to educational institutions or nonprofit organizations that partner with businesses to provide training, new jobs and career paths for low income people.
• Job Training Incentive Program: Provides training grants of up to $200,000 to new or expanding businesses located in Greater Minnesota.
• Low Income Worker Training Program: Provides grants of up to $200,000 to public, private, or nonprofit entities to help low-income people gain new skills necessary move up the career ladder to higher paying jobs and greater economic self-sufficiency.
• Automation Training Incentive Pilot Program: Provides training grants of up to $25,000 to small businesses that are implementing new automation technology.

FEDERAL PROGRAMS and RESOURCES

U.S. Department of Agriculture, Rural Development

The U.S.D.A. Rural Development Office, has an extensive list of programs to assist new and existing businesses with construction, equipment purchases, renewable energy production, and energy efficiency upgrades.

Rural Development has over 15 programs, ranging from competitive grants to guaranteed loans, designed specifically for small businesses and agri-businesses in rural America.

Small Business Administration (SBA) - Loans
Banks and other lending institutions offer a number of SBA guaranteed loan programs to assist small businesses. While the SBA itself does not make loans, it can guarantee loans made to small businesses by private and other lending institutions. Below is an overview of the SBA's programs:

• General Small Business Loans
• 7(a) Loan Program: The 7(a) loan program is the SBA's primary program for providing financial assistance to small businesses. The terms and conditions, like the guaranty percentage and loan amount, may vary by the type of loan. Click on the 7(a) program link to view different types of 7(a) loans. 
• Real Estate and Equipment Loans
• CDC/504 Loan Program: The CDC/504 loan program provides financing for major fixed assets such as equipment or real estate. 
• Microloan Program
• The Microloan program provides loans up to $50,000 to help small businesses and certain not-for-profit childcare centers start up and expand. The average microloan is about $13,000. Microloans can be used for working capital, inventory, supplies, furniture, fixtures, machinery, or equipment.