DEED New Programs Fall 2022

Business Blog
Written By Marie Campos

Minnesota Department of Employment and Economic Development (DEED) launched new programs to assist small businesses:

  • Minnesota Loan Guarantee Program. The program will provide guarantees to enrolled lenders for up to 80% of principal on loans to eligible businesses. This will help mitigate risk so lenders can increase capital available to small businesses across Minnesota.

  • Growth Loan Fund: Launched in November 2022, this program provides direct loans to innovative seed- and early-stage technology businesses. Loans range from $100,000 to $400,000 and businesses can apply directly with DEED.

Marie Campos
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