• Gold Key or other business matchmaking services • Company-specific international sales activities • Testing and certification (such as CE marking) required to sell products in foreign markets Eligibility Eligible companies must fit the SBA definition of a small business, based on annual sales or number of employees, and: • Have been in operation for at least one year • Be operating profitably, based on U.S. operations • Have an understanding of the costs associated with exporting • Have a strategic plan for exporting (unless applying for an export-planning grant) Activities must be pre-approved in order to be eligible for reimbursement. Companies MAY NOT APPLY for reimbursement for activities that have already taken place. Eligible companies must also have products or services that are appropriate for the target market, must agree to participate in surveys and provide information on program outcomes. State Small Business Credit Initiative (SSBCI) SSBCI.DEED@state.mn.us Automation Loan Participation Program DEED makes companion loans intended to fill gap financing needs for businesses purchasing machinery, equipment, or software to increase productivity and automation. Eligibility Eligible borrowers include manufacturing, distribution, technology and warehousing businesses located in Minnesota. Eligible industries are evaluated based on NAICS codes and do not include businesses whose primary activity is Retail Trade or Transportation. The program targets businesses with fewer than 500 employees. Growth Loan Fund The Growth Loan Fund program provides direct loans to eligible seed and early-stage businesses. The business must be planning to raise equity in order to qualify. The applicant first completes an enrollment application in which they state how much equity they intend to raise. Once enrolled in the program, they have 12 months make at least 70 percent of their goal with a minimum raise of $400,000. If they achieve this goal, they complete the proof of investment and loan application. The approved loan amount will be based on 20 percent of the total amount of equity investment raised in the funding round. Investments made prior to the defined 12-month period do not qualify. Loans may be up to $400,000.
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