Angel Loan Fund offers MN businesses up to $250,000 in interest-free help

McLEOD, WRIGHT, CARVER COUNTIES, MN – A new loan program for Minnesota start-up companies was announced Dec. 12 by Governor Mark Dayton and the Department for Employment and Economic Development (DEED).

According to the Winsted Area Chamber of Commerce, entrepreneurs with Minnesota-based businesses and fewer than 500 employees can tap into the $6.7 million loan fund to help with equipment purchases, construction, and other needs. They don’t have to pay it back for seven years, when a balloon payment comes due.

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