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Growth Loan Fund

DEED is now accepting applications from businesses seeking financing from the program.

To be notified when additional SSBCI programs are announced over the next few months, sign up today.

The Growth Loan Fund (GLF) supports entrepreneurial growth throughout Minnesota by offering low-interest loans to early-stage businesses. It is part of the State Small Business Credit Initiative.

Businesses seeking funding through this program need to be engaged in, or be committed to engage in, technological innovation in Minnesota. Qualified high-technology fields include, aerospace, agricultural processing, renewable energy, energy efficiency and conservation, environmental engineering, food technology, cellulosic ethanol, information technology, materials science technology, nanotechnology, telecommunications, biotechnology, medical devices, pharmaceuticals, diagnostics, biologicals, chemistry, veterinary science, or similar. The primary business activity must include one or more of the following:

  • Using proprietary technology to add value to a product, process or service in a qualified high-technology field
  • Researching or developing a proprietary product, process, or service in a qualified high-technology field
  • Researching, developing, or producing a new proprietary technology for use in the fields of agriculture, tourism, forestry, mining, manufacturing, or transportation
  • Researching or developing a proprietary product, process or service in the fields of agriculture, tourism, forestry, mining, manufacturing, or transportation (no technology component required)
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