Regional Centers Loan Program
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| Southwest Initiative Foundation provided loan funding for The Computer Man in Marshall, Minn. |
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Recognizes and enhances the continuation of
regional economic growth and activity in and
around the regional centers of Hutchinson,
Marshall, Willmar and Worthington.
Eligible manufacturing, professional or technology for-profit
businesses must create new wealth for the region, create
or retain jobs that provide a livable wage with benefits and
contribute to building the region’s assets.
Funds may be used for machinery and equipment, inventory
and/or working capital.
Applicants must have adequate cash flow to service debt and
complement lending from the private sector. The loans must
have adequate collateral and may be subordinate only to the
interest of the primary lender.
The loan size must not exceed $500,000.
Loan amortization will be based on the life of the assets and
will match the amortization of the other lenders on the project
when possible.
The loan maturity will generally be five years but may have
extended amortizations if warranted by the financed assets.
Applicants should contact SWIF at 800-594-9480,
320-587-4848 or loans@swifoundation.org early in the
project development stage.
Applicants should complete a loan application.
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Additional Resources: |
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- No additional resources at this time.
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