Loans

Do you need money for your small business? WomenVenture offers loans from $1,000 to $50,000 to qualified new and existing business owners.

Loan Features:

  • Terms up to 5 years
  • Fixed interest rates
  • No pre-payment penalty
  • Access to business advisors to help with questions about finance, marketing, human resources, legal and more for the duration of your loan

Still have questions about our loan program? We'd love to talk with you.

Next Steps

What do I need to get started?

For New Businesses:

  • You need to have a written plan for your business
  • Include financial projections, both revenues and expenses (including how you arrived at your projections, including the assumptions you made)
  • You must include a plan for your business: Why is it needed in the world? What will make it different from its competitors?  What will it need to be successful?  What is your background?  How will that help your business? How will you create your product or service, and how will you market it? To whom?  What could go wrong? Identify 2or 3 key risks you face, and how can you address/prepare for those now?  These are just a few of the factors you need to think deeply about before you do anything else. 

If you need help with this part, here are a few resources you can access:

Before you start..... 

A few show-stoppers: 

  • If you filed for bankruptcy, it must have been discharged for at least two years. 
  • You must not have delinquent child support or outstanding tax liens. 

Key factors we consider:

  • Yes, your credit will be pulled. It is one of the key factors in our underwriting. 
  • The stronger your credit is, the higher the potential amount we can lend you. 
  • If your credit is poor, we may not be able to lend to you at all—at least not now.  We will refer you to a reputable credit repair agency, such as Lutheran Social Services, for guidance on how to improve your credit. 
  • We underwrite the ability of the business to pay all expenses and repay the debt, with some cushion. 
  • We also consider the collateral available.    

The first step to starting the loan process is to complete our loan application.

Once you complete the application, a loan officer will review it and send you an email outlining the next steps. 

Additional documents may be needed based on your loan request.

We lend to businesses located in the 16-county Twin Cities Metro Area. Counties served include: Anoka, Carver, Chisago, Dakota, Hennepin, Isanti, McLeod, Ramsey, Scott, Sherburne, Steele, Washington, Wright, Pierce (WI), Polk (WI), St. Croix (WI).
We are a U.S. Small Business Administration (SBA), Community Development Financial Institution (CDFI), and Minnesota Department of Employment & Economic Development (DEED) lender.

When I reached out originally for the loan from WomenVenture, it was almost like they were waiting for my call. When I knew that the loan was going to be recommended and backed by them, it just was a huge relief to know, ‘ok, it’s not going to be quite so hard.’ The loan gave me the ability to hire additional staff that I really needed, to open a store, to be able to purchase delivery vehicles.

Maelei Catt, CREATIONS Cabinetry

Our Banking Partners

We partner with numerous banks in our community to provide small business loans. If you’re a banking professional, we’d love to work with you to help you meet the financial needs of your clients.

FAQs

Have questions about our loan program? You’ll find the answers to some of the most commonly asked loan questions here.