Inadequate equity by the owners of the business. Inability to pay market interest rates or term requirements. If assistance is needed, applicants can find support from available business development professionals such as the state's business finance specialist, regional development commission staff, community development personnel, or small business development consultants. Contact the SWMF it you are unsure about how to access these resources. In order to create investment quality business opportunities to foster long term economic growth in Southwest Minnesota.
Equity Funds are available to bring or expand a new product or technology in the marketplace.
Repayment schedule will be structured based upon the individual project and the amount of funding received. Personal guarantees maybe required. The creation of new jobs is a primary consideration in funding as long-term employment will enhance the region's ability to prosper. Loan Criteria and Guidelines 1. Applicant must have a good personal credit history or an explanation of credit deficiencies.