Looking for a loan to launch or grow your business?
Redesign has multiple loan product options for entrepreneurs looking to start or expand their businesses. The Hiawatha Revolving Loan Fund provides much-needed capital to emerging and established businesses in our service area. Built in an accessible and equitable way, Redesign’s low-interest loan fund is designed for those entrepreneurs who are excluded from traditional financing opportunities. Today, the loan fund is offered at below-market interest rates to best support our local small business community. Loans can be provided for a wide range of uses related to business operations and expansion, and alternative and culturally appropriate loan products are available.
Redesign Inc. is also a certified lender under DEED’s Emerging Entrepreneur Loan Program which supports the growth of businesses owned and operated by minorities, low-income persons, women, veterans and/or persons with disabilities. The program goals are providing jobs for minority and/or low-income individuals, creating and strengthening minority business enterprises, and promoting economic growth in low-income areas. To qualify for the ELP loan the business must be based in Minnesota and owned and operated by one or more Minnesota residents. ELP loan funds can be used for start-up and expansion costs including machinery and equipment, inventory and receivables, working capital, new construction, renovation and site acquisition.
To learn more, reach out to Program Manager Ayan Abdinur at firstname.lastname@example.org or 612.877.8170