This post is part of a series of posts designed to help you acquire a loan for your small business. The following posts cover methods for public financing of your small business
The Minnesota Agricultural and Economic Development Board (MAEDB) makes small business loans, the funds for which come from industrial development bonds issued by the Board. Eligible businesses are those manufacturing and industrial businesses located or intending to locate in Minnesota and which meet the small business size standards of the U.S. Small Business Administration; eligible purposes of loan proceeds include the acquisition of land, building, machinery or equipment; building construction or renovations. Loan proceeds may not be used to meet working capital or refinancing needs.
Loans are made in amounts ranging from $1 million to $5 million.