MnDOT Loans

MnDOT Fast Track Working Capital Loan Program for Negotiated Maintenance and Construction Contracts and Professional/Technical Contracts

In partnership with MnDOT, WomenVenture has developed a fast-track working capital loan approval process for Disadvantaged Business Enterprises (DBEs) and Targeted Group Businesses (TGBs) who have secured Negotiated Maintenance and Construction Contracts (NMCC) and Professional/Technical Contracts (P/TC).

Loan terms:
  • Loans are available up to $25,000 or 50% of the contract, whichever is less
  • The interest rate on loan is prime rate (currently 3.25%) plus 2% APR
  • Loans must be repaid within 30 days of receipt of payment from MnDOT
  • The total contract amount cannot exceed $250,000*
  • Working capital loans are only available for DBEs and TGBs with a MnDOT contract, but those who are bidding for a contract can apply to be pre-qualified
  • There is no application fee
Minimum requirements:
  • Minimum credit score of 575 preferred
  • Outstanding collection accounts are less than $1,000 and show evidence of repayments, and
  • Two years of business tax returns or personal tax returns (including all schedules) that show profitability.

Please note: You must provide a copy of the executed MnDOT contract, the contract clearance submitted for the contract (if applicable) and you must meet for a 1:1 consultation with a financial consultant assigned by WomenVenture. All information and documentation submitted through the portal will be held securely and confidentially.

Apply Now

To apply now, please complete the application. If you want to talk with a WomenVenture business advisor about the program before applying, please contact Kathy Pyle at kpyle@womenventure.org

No MnDOT contract yet, but planning to apply?

We can help you have working capital ready to execute a MnDOT contract that you are applying for.

MnDOT Working Capital Loans

WomenVenture has been appointed to administer MnDOT's Working Capital Loan Fund for certified Disadvantaged Business Enterprises (DBEs) and Targeted Group Businesses (TGBs) with a MnDOT contract.

MnDOT Working Capital Loan Terms:
  • Loans are available up to $25,000 per contract (or 50% of the contract, whichever is less)
  • Loans are available for each MnDOT contract you hold, up to a total of $60,000
  • The annual interest rate will be prime (currently 3.25% as of 10/23/20) plus 2%
  • There will be filing fees (as applicable), but no loan origination fees
  • The loan must be repaid no more than 120 days after payment of your last project invoice

I Want More Information

Interested in applying for a loan? We’ll walk you through the 3 parts of completing our loan application.

I am Ready to Apply

If you have a MnDOT contract already, you can apply for a loan up to $25,000 from the Working Capital Loan Fund. If you have any questions about the loan application process, contact Sue Moses at smoses@womenventure.org.