Loan Programs
The Port Authority of Winona has a local Revolving Loan Fund for qualifying businesses to obtain funds for business loans. The Port works in conjunction with your local financial institutions to assist you.
Terms and Types of Loans
Loan funds may be used for machinery and equipment, acquisition, building construction and expansion and working capital. The loans range from $10,000 to $75,000 with interest tied to the prime rate. Term will be based on the item financed. A maximum of 50% of project cost may be financed. There are job creation thresholds and wage level requirements businesses must meet to participate in the program.
What Do We Need To Proceed:
Business Recovery Application
Business Recovery Application (PDF)
Business Recovery Application Fill-In Form
Other Assistance
The Port Authority of Winona works with a number of entities in Minnesota who assist businesses with their needs. The Port Authority works closely with the Southeastern Minnesota Initiative Fund (SEMIF). SEMIF offers small business loans that Winona companies can utilize. Visit their Website at: http://www.smif.org/
The Port Authority works closely with the Minnesota Department of Employment and Economic Development (DEED). The Department has financing programs and training funds available to assist businesses. The Port Authority can direct businesses to the proper areas for this assistance. Visit DEED's Website at: http://www.deed.state.mn.us/
Please contact us, and we will help you in obtaining more information about resources that may be available to you. |
