Apply for an accessible business loan

Building a business isn't easy, but what if you had support?

The Initiative Foundation is an independent, nonprofit community foundation in Central Minnesota. Through the Impact Fund, we offer more flexible lending than conventional banks, backed by support from the U.S. Department of Treasury. Rather than competing with banks, we complement their efforts by helping emerging businesses establish stability before transitioning to traditional financing.

See if You Qualify

 

You invest in your community. We invest in you.

It’s not just about money. Get the support you need to succeed. Along with your loan, you can get …

  • financial literacy training
  • business planning and guidance
  • marketing guidance
  • access to networking opportunities.

Because we believe in supporting community for the long term.

It worked for them. Why not you?

The Isaacsons

When the pandemic upended the U.S. meat industry, Rob and Amanda’s small butcher operation in rural Minnesota was suddenly overwhelmed with demand. Their small facility wasn’t big enough to keep up.

The Initiative Foundation’s Impact Fund provided crucial support to help the couple expand, first with a larger processing facility using a $200,000 USDA grant bridge loan, then with land purchase financing for a Highway 169 retail location.

The business now employs 10 people and serves customers from across Minnesota.

From Custom Cuts to Retail Reality

Gladys Winkelman

When Gladys Winkelman’s landlord required an expensive signage upgrade, the salon faced potential closure.

Winkelman turned to the Initiative Foundation’s Impact Fund for support. A $10,000 microloan helped her cover the new sign installation, saving her lease and boosting visibility.

“We have people just come walking in here now,” Winkelman said. The Kenyan-born entrepreneur now plans to expand with a barbershop while her illuminated sign continues drawing new customers.

Braiding Business and Belief

Shawn Kor

Eagle’s Healing Nest provides housing and healing for up to 75 veterans coping with PTSD, anxiety and addiction. After years of financial mismanagement left the nonprofit facing foreclosure in 2022, new Director Shawn Kor stepped in to stabilize operations.

With support from several financial partners and a $250,000 Impact Fund investment from the Initiative Foundation, the organization converted a contract-for-deed into traditional mortgages. Today, the 124-acre campus continues its mission of supporting veterans — offering care without referrals, fees or time limits.

Standing With Veterans

How it works

We offer three different types of loans.

Apply for a Loan

Gap loans

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Can’t get all the funds you need from another bank? The Impact Fund could make up the difference.

Direct loans

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Get a loan to launch your business and create living-wage jobs in your community.

Microloans

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Sometimes, all you need is a few thousand dollars to boost your business.

See if you qualify for support

Loan eligibility is based on more than credit score or collateral. We’ll take into account your character, business plan, and community impact.

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Note: Our loan programs are available only to individuals and businesses located within the 14 counties and two Native nations of Central Minnesota (Benton, Cass, Chisago, Crow Wing, Isanti, Kanabec, Mille Lacs, Morrison, Pine, Sherburne, Stearns, Todd, Wadena and Wright counties and portions of the Native nations of the Leech Lake and Mille Lacs Bands of Ojibwe). If you live or operate outside this region, please do not complete this form.

Funded in part by the U.S. Department of the Treasury’s CDFI Fund. We are an Equal Opportunity Lender. All applicants are considered regardless of race, color, religion, sex, marital status, age, or national origin.

Eligibility Reminder: Loans are available only within the 14 counties and two Native nations of Central Minnesota.