Minnesota Business Loans

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Did you know that Minnesota is home to over 5,000 lakes? That's more than any other state in the US! The state is also home to 10,000 miles of rivers and streams. With all that water around, it's no surprise that fishing is a popular pastime in Minnesota. In fact, the state has more anglers per capita than any other state in the country.

This unique state is also home to a thriving business community. Small businesses make up the majority of businesses in Minnesota, and they play a vital role in the state's economy.

If you're a small business owner in Minnesota, you might be looking for a loan to help you grow your business. Advancepoint Capital offers business loans up to $1,000,000. We can help you get the funding you need to expand your business and take it to the next level. Contact us today to learn more about our business loans in Minnesota.

How To Get A Small Business Loan in Minnesota?

There are a few different ways to get a small business loan in Minnesota. The first step is to understand what type of loan you need and what you can qualify for. There are several types of loans available, each with its own set of qualifications. You'll also need to have a solid business plan and financial statement to show lenders.

Even if you're not sure what type of loan you need, we can help. We'll take a look at your business and help you determine the best way to get funding. We've helped countless businesses in Minnesota get the funding they need to grow and succeed.

9 Best Loan Options for Minnesota Small Businesses (May 2023)

small business loan

Small Business Loans in Minnesota

Many owners turn to small business loans as a solution for capital without losing equity or stake in their company.Many different products are available depending on need.

SBA Loan

SBA Loans

The Small Business Administration (SBA) is a government agency that serves as the main resource for government-backed business loans. Application process requires time and credit worthiness.

Merchant Cash Advance

Merchant Cash Advance

Receivables financing which is based on credit card processing of the business. Quick and easy application process. A great alternative to traditional financing.

Small Business Cash Advance

Business Cash Advance in

Revenue based financing based on the current monthly deposits of the business. Quick turnaround with application process.

Business Line of Credit

Business Line of Credit

Revolving line of credit that lets you draw money as needed and only pay interest based on current outstanding balance. No prepayment penalties.

Equipment Financing

Equipment Financing

Equipment financing is a great way to purchase expensive new equipment with terms that are affordable. Quick application process and approval.

Invoice Financing

Invoice Financing

Invoice financing is an advance of an issued invoice. Great for businesses looking to improve the rate of cash flow. Simple approval process.

Short-Term Business Loan

Short Term Small Business Loans

Short term loans are a great alternative when banks say no traditional financing. Fast approval process and considers all credit types.

Long Term Business Loans

Long Term Business Loans

Long term business loans are available for those businesses needing business expansion, new initiative or a major renovation project. Long term financing provides affordable terms for costly long term projects.

Minnesota Business Loans Guide

U.S. Small Business Administration

How to Grow Your Business in Minnesota

View the Minnesota Small Business Resource Guide for information and assistance in growing your local business, exploring funding options, and contracting.

U.S. (SBA) U.S. Small Business Administration
Minnesota District Office

Minnesota Business Loans Guide

Reasons Your Business Need Financial Assistance

  • Access to working capital
  • Equipment purchase and repair
  • Access capital for inventory
  • Business plan expansion
  • Cash flow shortages
  • Access to capital for emergencies
  • Advertising, marketing, and customer acquisition resources
  • Create more jobs, recruit employee, and provide training resources

Initiatives, Government Financing Programs, and Grants in Minnesota

Minnesota Department of Employment and Economic Development – SBA Financing Programs – The Small Business Administration has financial assistance programs for Minnesota businesses that provide access to debt and equity primarily from banks or other private sources.

Minnesota Department of Employment and Economic Development – Minnesota Small Business Loan Guarantee Program – The Minnesota Department of Employment and Economic Development (DEED) now offers the Minnesota Small Business Loan Guarantee Program. This temporary program, established in response to the 2020 public health emergency, will help Minnesota lenders provide capital to small businesses in Minnesota affected by Coronavirus (COVID-19). These Minnesota Department of Employment and Economic Development relief options can be used for various purposes and can be subordinate to other financing. Allowable loan uses must be exclusively in Minnesota and include machinery or equipment purchases, maintenance, or repair; expenses related to moving into or within Minnesota; employment and economic development, as well as working capital when the working capital is secured by fixed assets when possible.

Minnesota Chamber of Commerce – Economic Development Resources and Business Financing  – Minnesota’s largest broad-based business organization representing more than 6,300 companies – and more than half a million employees – throughout Minnesota. The Chamber builds on its legacy as a voice for business by advancing public policy that grows jobs and the economy and providing valuable services to members, so they continue to stay and grow in Minnesota. A business climate that allows for innovation and forward-thinking leadership will help grow the strength of Minnesota’s economy for future generations.

Why AdvancePoint Capital?

  • Experience with Businesses in Minnesota – We have been providing financing in Minnesota for years.
  • Trust – Excellent reviews and feedback from small business owners.
  • Loan Specialists – Experienced business funding specialists in Minnesota.
  • No Obligation – No cost, no commitment quotes.
  • Products – A variety of business loan products for businesses in Minnesota.

Apply for Minnesota Business Loans Today!

Getting a financing solution or financial advice in Minnesota can be troublesome. At AdvancePoint Capital, applying for a business loan is fast and easy with our simple application process. All you need to do is fill out our online form, and application page, and in just a few hours — you’re well on your way to getting yourself a business loan in Minnesota. 

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Frequently Asked Questions

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