A Guide To STARTING A BUSINESS IN MINNESOTA 42nd Ed 2024

Examples include:

• Working capital • Inventory

• Supplies • Furniture • Fixtures • Machinery • Equipment

Proceeds from an SBA microloan cannot be used to pay existing debts or to purchase real estate. Microloans are available through certain nonprofit, community-based organizations that are experienced in lending and business management assistance. Individual requirements will vary. Military Reservist Loan If you have an essential employee who is a military reservist called to active duty, SBA provides loans to help eligible small businesses with operating expenses. Investment Capital - SBIC Directory Find an investor for your business through a Small Business Investment Company (SBIC) licensed by the Small Business Administration (SBA). Surety Bonds The Small Business Administration (SBA) guarantees bid, performance, and payment surety bonds issued by certain surety companies. Grants SBA does not provide grants for starting and expanding a business. SBA provides limited small business grants (detailed below) and grants to states and eligible community organizations to support entrepreneurship.

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