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BUSINESS FINANCING <br /> INITIATIVE <br /> ❖ Direct Business Loan Fund Fn D <br /> Fills the gap in financing packages for new or expanding companies that show pote �a`l'=or gA#t N <br /> job creation or retention. Targeted industries include manufacturing, technology based business <br /> sectors, and value-added agriculture. <br /> • Loan amounts of$50,000 to $250,000 <br /> • Minimum 50% bank or lending institution participation <br /> • Subordinate collateral position <br /> • Eligible uses: real estate, equipment, and working capital <br /> ❖ Technology Capital Fund <br /> Supports emerging technology ventures and helps established businesses integrate proven <br /> productivity applications into operations. <br /> • Loan amounts of$50,000 to $500,000 <br /> • Primary lender participation if feasible but not required <br /> • Flexible terms and collateral requirements <br /> • Established businesses, pre-revenue businesses & start-ups <br /> • Eligible uses: Fixed assets, working capital, commercialization of new product launch, and <br /> productivity enhancing software systems. <br /> ❖ Green Business Loan Fund <br /> Supports entrepreneurial ventures by financing new or expanding businesses that deliver a <br /> product/service that protects or preserves the environment, reduces or recycles an existing waste <br /> stream, or reduces energy demands/costs. <br /> • Loan amounts of$50,000 to $250,000 <br /> • Minimum 50% bank or lending institution participation <br /> • Subordinate collateral position <br /> • Eligible uses: real estate, equipment, and working capital <br /> ❖ Seed Capital Fund <br /> Supports emerging entrepreneurial ventures by financing new product concepts, development, and <br /> market research. <br /> • Loans, convertible debentures, or equity investments up to $50,000 <br /> • Early stage start-up capital <br /> • Emerging technology ventures or projects with high growth potential <br /> • Flexible terms based on stage of venture <br /> ❖ Microenterprise Loan Guaranty Program <br /> Protects banks and lenders against default by underwriting up to $50,000 through a simple guaranty <br /> agreement. Fund was designed to increase local ownership or expansion of small business, <br /> especially among underserved populations who have traditionally been less likely to be business <br /> owners. <br /> • Focus on locally owned and downtown businesses, non-traditional°bo * t l s' <br /> • Retail/service sector eligible Lrrri.e: Inl.ls. MN 56345 <br /> • Non-traditional borrowers include women, people of color, young adults, and applicants with <br /> WWM'.IPOI1NI).O1(, <br /> low net worth. Pltorvs: 320 632 9255 <br /> PAx: 320 632 9258 <br /> I:OUAI.OI'I'Olt r LINT'rl" I.I:NI)I!R. <br /> I'ROVII)I:N AND I:N l'1.()YI;It. <br />