New Growth Loan Fund Supports Washington County Entrepreneurs

A new loan fund is available for Minnesota's entrepreneurs - the Growth Loan Fund. “Minnesota was recently named by Startup Genome as the 4th top emerging startup market in the entire world,” said Commissioner Steve Grove. “If you look at the ecosystem here, the proximity to the Fortune 500 market, the access to talent we have - this makes us an incredible place to start a business. But getting the capital you need to get moving can be challenging. That’s why we have launched the Growth Loan Fund.”

The fund provides loans directly from DEED to innovative technology businesses that have raised less than $250,000 or later-stage companies that are not ready for a Series A. $4 million is available for this round of funding ($100,000 to $400,000 per loan). Entrepreneurs can apply directly with DEED and view this video for more information.

The Washington County Community Development Agency’s new program - What’s Next CEO - is here to help businesses accelerate their growth in many ways. For more information on the Growth Loan Fund and many other resources, contact our small business expert Lee Hall for free support.