Indian Business Loan Program

Overview

The Minnesota Indian Business Loan Program supports the development of Indian-owned and operated businesses and promotes economic opportunities for Indian people throughout Minnesota.

To Apply
DEED accepts applications on an on-going basis, subject to the availability of funds. The department evaluates all applications and forwards a recommendation to the appropriate tribal council for final consideration. The Minnesota Chippewa Tribe has authority to use IBLP funds to make loans to businesses owned and operated by an enrolled member of its six participating bands – Bois Forte, Fond du Lac, Grand Portage, Leech Lake, Mille Lacs, and White Earth.

Eligibility
Applicants must be enrolled members of a federally recognized Minnesota-based band or tribe. Businesses must be wholly owned by an enrolled member and can be located anywhere in the state, although the bulk of the loans are made to businesses on a reservation.

Project Requirements
Loan proceeds may cover start-up and expansion costs, including normal expenses such as machinery and equipment, inventory and receivables, working capital, new construction, renovation, and site acquisition. Financing of existing debt is not permitted.

Terms and Interest
Interest rate may be between 2 percent and 10 percent. Terms for real estate purposes are limited to no more than 20 years. Non-real estate loans are limited to no more than 10 years. Loans may not exceed 75 percent of the projects costs or the balance of the funds available to any one tribe.

Owners must provide a portion of the financing needed to undertake the project. The amount varies between 5 percent and 10 percent, depending upon the requirements of each band or tribe.

For More Information
Contact Bart Bevins at (651) 259-7424 or email Bart.Bevins@state.mn.us

Application Process

Applicants must be enrolled members of a federally recognized Minnesota-based band or tribe. Businesses must be wholly owned by an enrolled member and can be located anywhere in the state, although the bulk of the loans are made to businesses on a reservation.

Application Process for Members of the Minnesota Chippewa Tribe
Enrolled members of the Bois Forte, Fond du Lac, Grand Portage, Leech Lake, Mille Lacs, and White Earth reservations should contact the Minnesota Chippewa Tribe (MCT) in Cass Lake.

DEED and the MCT have executed an agreement that authorizes MCT to operate the loan program for the department. Members should contact Courtney Aitken Gifford, EDA Director, at 218-335-8582 for application forms and the loan process.

For Other Minnesota Tribes and Bands
For those members of the other Minnesota tribes and bands, DEED accepts applications on an ongoing basis, subject to the availability of funds. Interested business owners may submit an application.

Application Forms
Select from the links below to view, download and print the Minnesota Indian Business Loan program’s application forms.

Submit according to the instructions on the form.

Tribal Contacts

Minnesota Chippewa Tribe Contacts
Members of one of the six bands that make up the Minnesota Chippewa Tribe should contact the MTC at (218) 335-8582.

Other Tribal and Band Contacts
Other tribes and bands have developed individual economic development programs that meet the particular needs of their members. Contact the following for specific information:

  • Lower Sioux Community
    (507) 697-6185
  • Prairie Island Community
    (651) 385-2554
  • Red Lake Band of Chippewa
    (218) 679-3341
  • Shakopee-Mdewakanton Community
    (952) 445-8900
  • Upper Sioux Community
    (320) 564-3853

Other Financing and Technical Assistance
Contact the Minnesota American Indian Chamber of Commerce at (612) 877-2117 for other financing and technical assistance.