Microloans
A Boost for Your Business
Microloans are small loans provided by CDFIs like the Initiative Foundation to individuals, small businesses, and entrepreneurs in underserved communities. Microloans typically are used to support the growth and development of small-scale businesses or to assist individuals with limited access to traditional financial resources.
Microloans can range from a few hundred dollars up to tens of thousands of dollars. The goal of the Initiative Foundation’s microlending program is to support entrepreneurship, foster economic self-sufficiency, and creating opportunities for individuals and small businesses.
When Access is Essential
Friendly and Flexible
Initiative Foundation microloans consider not only credit scores but also the borrower’s character, business plan, and community impact. This approach allows individuals and small businesses with limited credit histories to access capital they might not obtain through conventional means.
Backed by Additional Support
Our technical assistance and support helps borrowers develop business plans, improve financial literacy, and build the necessary skills to manage and successfully grow their businesses.
Contact
Reach out to a member of our lending team today to start a conversation. We’re here to help!
Flagship Entrepreneurial Programs
In addition to its Business Basics workshops and its partnerships to advance business succession planning across the region, Initiative Foundation programming invests in the promise of local people who have the drive and determination to start and sustain job-creating, community-enriching businesses.
Enterprise Academy
Launched in 2018, the Enterprise Academy has helped hundreds of individuals realize their dream to build and launch local businesses. From accounting to food to healthcare ventures, Enterprise Academy graduates are enriching the region and beyond with their products and services.
Initiators Fellowship
The Initiators Fellowship is a bold strategy that gives next-generation leaders the tools and resources to accelerate their entrepreneurial and leadership skills—all for the greater good of Greater Minnesota.