Emerging Entrepreneur Loan Program (ELP) Supports the growth of businesses owned and operated by minorities, low-income persons, women, veterans and/or persons with disabilities. DEED provides grant funds to a network of nonprofit lenders which use these funds for loans to start-up and expanding businesses throughout the state. ELP@state.mn.us Native American Business Loan Program Program supports the development of Native- owned and operated businesses and promotes economic opportunities for Native peoples throughout Minnesota. 651-259-7823 Minnesota Reservist and Veteran Business Loan Program Provides business loans to companies that are affected when certain employees are called to active military duty and to individual veterans who have returned from active duty and want to start their own business. 651-259-7445 Export Financing Programs: STEP (State Trade & Export Promotion Program) Grant Progra m 651-259-7485 State Small Business Credit Initiative (SSBCI) SSBCI.DEED@state.mn.us Minnesota Loan Guarantee Program (MNLGP) P rovides guarantees to enrolled lenders for up to 80 percent of principal on loans to eligible businesses. The program helps enrolled lenders mitigate risk so they can increase capital to small businesses located across Minnesota. Growth Loan Fund (GLF) GLF supports entrepreneurial growth throughout Minnesota by offering low-interest loans to early-stage businesses that are seeking to raise equity investments. Small Business Loan Participation Program (SBLPP) Through SBLPP, DEED purchases 25-30 percent participations in loans made by approved non- depository Community Development Financial Institution (CDFI) and nonprofit lenders. Lenders are responsible for all credit decisions and loan terms. Borrowers must apply directly with an approved lender. Automation Loan Participation Program (ALPP) Through ALPP, DEED makes companion loans intended to fill gap financing needs for businesses purchasing machinery, equipment, or software to increase productivity and automation.
Direct Investment Venture Capital Program / Multi-Fund Venture Capital Program Fund-level venture capital investments. Tax Credi ts : Border-Cities Enterprise Zone Program
Program provides business tax credits (property tax credits, debt financing credit on new construction, sales tax credit on construction equipment and materials, and new or existing employee credits) to qualifying businesses that are the source of investment, development, and job creation or retention in the Border-Cities Enterprise Zone cities of Breckenridge, Dilworth, East Grand Forks, Moorhead, Ortonville, and the Development Zone of Taylors Falls. BorderCities.DEED@state.mn.us Seed Capital Investment Credit Program Program provides tax incentives for investing in innovative business located in the Minnesota border cities of Breckenridge, Dilworth, East Grand Forks, Moorhead, and Ortonville.
bordercities.deed@state.mn.us Data Center Sales Tax Incentives
A qualified data center, qualified large-scale data center, or qualified refurbished data center may claim the exemptions for purchases made within 35 years of the date of its first purchase
qualifying for the exemption. datacenter.deed@state.mn.us Greater MN Job Expansion Program
Program provides tax benefits to businesses located in Greater Minnesota that increase employment. Qualifying businesses that meet job-growth goals may receive sales tax refunds for purchases made during a seven-year period. GreaterMNJEP.DEED@state.mn.us Research and Development Tax Credit Companies that engage in certain research and development (R&D) activities in Minnesota may qualify for the Credit for Increasing Research Activities. Contact Minnesota Department of Revenue 651-556-3075 | businessincome.tax@state.mn.us Opportunity Zones Opportunity Zones are a community development program established by Congress in the Tax Cut and Jobs Act of 2017 to encourage long-term investments in low-income and urban communities nationwide.
Minnesota Department of Iron Range Resources & Rehabilitation (IRRR) P.O. Box 441 - 4261 Hwy 53 South Eveleth, MN 55734 218-735-3030
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