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MN
Minnesota Promise Loan Program
Loans for businesses in communities adversely affected by structural discrimination and economic challenges.
About this program
The Promise Loan Program provides financing to businesses located in communities adversely affected by racial discrimination, civil unrest, lack of access to capital, loss of population, aging population, or lack of regional economic diversification.
Eligibility
Eligible Minnesota businesses located in designated Promise Act communities and meeting partner lender requirements.
Requirements
- Apply through a participating Promise Loan partner or lender
- Provide business, location, ownership, financial, and use-of-funds documentation
- Meet underwriting, program geography, eligible use, and reporting requirements