WomenVenture is a U.S. Small Business Administration (SBA), Community Development Reinvestment Fund (CDFI), Minnesota Department of Employment and Economic Development (DEED), and WeLend loan provider that helps women overcome obstacles to accessing credit by offering a variety of loan options. Qualified borrowers may access capital up to $50,000 to launch or grow small businesses. Our staff guides applicants through the loan process to determine readiness and qualifications. We also collaborate with local banks to facilitate additional funding. Learn more about bank partnerships.
Our loans include:
- Fixed interest rate
- Monthly repayment, for up to 5 years
- No pre-payment penalty
- One-time commitment fee, plus collateral filing fees
- Complimentary post-loan support (techical assistance): accounting, marketing, human resources, legal, and more
- Loan clients are linked with a staff business consultant or highly skilled volunteer who can address critical business issues as they arise
What can WomenVenture loans be used for?
Our loans can be used to help start or grow your business, including: leasehold improvements, inventory, supplies, working capital, and machinery or equipment purchases.
"The loan I received gave me the ability to hire additional staff, open a store, and purchase delivery vehicles. In the last six months, we've grown three times as fast as I would have without help from WomenVenture."
Enough personal and business income to cover all of your personal expenses with funds left over each month
No delinquent child support or outstanding tax liens
If you have filed bankruptcy, it has been discharged for at least one year
Have a complete detailed business plan with a budget
All business partners / owners with 20% or more ownership must personally guarantee the loan
For more information about the business loan application process, contact a WomenVenture Client Services Specialist at 612-224-9540.