Blue Star Power Systems in Lake Crystal received a SMIF loan to expand its generator set manufacturing business.

Business Loan Fund

Our Business Loans target six key industries:  bioscience, renewable energy, food/agriculture, manufacturing, technology, and healthcare. Our Business Loan Program works in partnership with local lending institutions, economic development organizations, and government agencies to help “fill the gap” between available and necessary financial resources. Contact Diane Lewis at 507-455-3215 for more information.

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West Oakland Auto, located in Austin, started as a father-and-son team and now has six employees and are looking to expand.

Small Enterprise Loan Fund

Small businesses are the anchor of our economy. For the past 10 years, SMIF has provided micro loans through a partnership with the Small Business Administration (SBA). These loans support small business owners or start-up entrepreneurs who create service, retail, local foods, and manufacturing businesses.  Even though these businesses are very small individually, they create the fabric necessary for community vitality. All Small Enterprise Loan recipients are eligible to receive free technical assistance. Contact Marcia Haley at 507-455-3215 for more information.

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Katie’s Kinder Garden Preschool and Child Care in Rochester received a SMIF loan to make some minor repairs to her home and purchase equipment, such as outside play equipment and toys

Building Blocks Loan Fund

Our Building Blocks Loans support the business of family child care by providing financial resources and technical assistance to help expand or enhance licensed child care businesses. Loan dollars can go towards provider licensure; repairs, renovations, or upgrades to the child care space; educational materials; playground equipment; and curriculum. All Building Blocks Loan recipients are eligible for free technical assistance. Contact Marcia Haley at 507-455-3215 for more information.

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Application
Operating Budget Worksheet

 

 

Farmhouse Market owner in New Prague offers the store members 24/7 access to local, organic food options by adopting an innovative model similar to all-access fitness centers.

Local Foods Loan Fund

Our Local Foods Loans support the start-up or expansion of businesses engaged in locally or regionally produced agricultural food products. Loan dollars can be used to purchase inventory, supplies, machinery/equipment, or used for working capital. Local foods producers will have the opportunity to receive mentoring and assistance through the FEAST Local Foods Finance Advisory Network, in addition to SMIF's technical assistance. Contact Marcia Haley at 507-455-3215 for more information.

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Application

 

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