Emerging Entrepreneur Loan Program

 

Emerging Entrepreneur Loan Program


 

EELP loans can be issued to “micro-enterprise” businesses in southeast Minnesota owned by minority or low-income persons, women, veterans, or persons with disabilities for a minimum of $5,000 and a maximum of $50,000. Micro-enterprises are small, beginning businesses that have fewer than five total employees and have been generating revenue for less than two years. For older and/or larger businesses, loans are available up to $150,000.

An information session was held on 12/16/21 - watch a recording of it here.

Guidelines for the EELP will be available in English, Spanish, Vietnamese, Somali, Arabic, and Khmer soon.

You can book a virtual meeting during our Open Office Hours by clicking here.

Need help putting together a business plan? Get confidential help for free from the Small Business Development Center!

This program is funded by the State of Minnesota and the Minnesota Department of Employment and Economic Development.

Guidelines and Frequently Asked Questions Coming Soon

 

Contact us

Rochester Area Economic Development, Inc. (RAEDI) value proposition is the ability to assist businesses and entrepreneurs in securing the private and/or public resources needed to execute their business plans. RAEDI is pleased to assist you with your request.

Please call 507-288-0208, email info@raedi.com, or fill out the form below.