Initiative Foundation

Business Loans

Technology Business Loans

Green Business Loans

Small Business Loan Guaranties

Search Investment Database

Photo Galleries

Additional Resources

Ask us anything or offer an opinion. We will e-mail our response in 48 hours or less.

E-Mail:

Questions / Comments:

Enter the code from the image:

How to Apply

Full loan applications require hours of planning, research and writing, which includes a detailed business plan, projected financial performance and cash flow. We believe, however, that entrepreneurs and business owners shouldn't have to invest all that time just to find out whether their project would even be considered for funding.

That's why we developed the Online Loan Inquiry as a first step. It only takes a few minutes to complete. You may complete it online (below) or download a copy and mail it to our office.

Here's how the process works:

Meet with the central Minnesota lender of your choice first! Your primary lender must confirm that they are willing to finance some, but not all, of your total request due to risk or collateral issues. The Initiative Foundation partners with your primary lender to fill the gap between what you need and what your bank or credit union can lend.
You complete and submit the online loan inquiry form below.
Our team meets regularly to review and discuss each loan inquiry. After receiving your loan inquiry, we will contact you within two weeks to either invite or decline a full application.

If we invite a full application, you are still not guaranteed a loan. This is an indication that we want to hear more about your project because it meets the basic requirements for financing.
If we decline a full application, we will share our reasons and often refer you to other potential resources.

We send you the full application, for you to complete and return with copies of required documents.
Upon receipt, your full application is assigned to a staff loan reviewer. They will contact you with questions and schedule a site visit, if deemed necessary.
The staff loan reviewer will make a written recommendation to the Initiative Foundation president, vice president for economic development or loan review committee, depending on the amount requested.
You are informed after the final decision is made, which may include a reduction in financing or other stipulations.
You are mailed a conditional letter of commitment that outlines the general terms of the financing including terms, collateral and fees. You sign and return the letter along with payment of an up-front 1% origination fee.
Once we receive the commitment letter, the staff loan reviewer begins preparations for loan closing. In most cases, your primary lender determines the timeline for loan closing.
After the required documents for both the primary lender and Initiative Foundation are signed at the loan closing, funds are dispersed.
The loan is announced to the media to increase public awareness of your business and the Initiative Foundation.
Periodically, Initiative Foundation staff will call to request on-site visits to monitor your progress and provide no-cost consultations.
While your Initiative Foundation business loan is outstanding, you must provide annual tax returns, financial statements, proof of insurance as well as employment and wage data. This information is used to measure impacts of our business financing programs and report to the agencies from which we obtain funds to lend to businesses.

Remember, your application proccess by completing the online loan inquiry form below. If you have any questions, email loans@ifound.org or call toll-free (877) 632-9255.

Fields marked with an asterisk are required.*

*I am a:

*Business Type:

Program Requested:

*Business Name:

*Contact Person:

*Address:

*City:

*State:

*Zip:

*Phone:

*E-mail:

*Years in Business:

*Number of Employees:

*Total Cost of Project:

*Financing Amount Requested:

As part of the project, how many new employees will be added within the next two years?

Average Starting Wage:

*Briefly describe the business. Including products, services, ownership, market and any other information that will help us consider your financing request.

Briefly describe the proposed project. How will the Initiative Foundation's financing be used? If you are inquiring about a Technology Capital Fund loan, make sure to address how the business will bring a new, innovative technology to market or how it will integrate a proven technology to improve operations.

How will this project strengthen the economy of your community?

Provide a budget estimate.

Use(s) of Financing:		Amount:
Land:		$
Building/Construction:		$
Machinery & Equipment:		$
Inventory:		$
Working Capital:		$
Other:		$
TOTAL:		$

Source(s) of Financing:		Amount:
Owner(equity):		$
Initiative Foundation:		$
Bank(s):		$
Other:		$
TOTAL:		$

What bank(s) and/or lender(s) are participating?

Lender:

Contact:

Phone:

E-mail:

Lender:

Contact:

Phone:

E-mail:

I certify that the above information and the statements contained herein or attached hereto are true and accurate to the best of my knowledge. I further authorize the Initiative Foundation to verify the submitted information by contacting any individual or organization deemed to have knowledge of the proposed project.

I agree

Enter the characters from the image:

Thank you! A copy of your inquiry will be sent to your e-mail address within a few minutes If you do not recieve a copy, there is a chance we did not recieve the inquiry. If this happens please contact us at 877-632-9255 or info@ifound.org.

Site Map | Contact Us

Initiative Foundation 405 First Street SE Little Falls, MN 56345		PH: (877) 632-9255 FX: (320) 632-9258	The Initiative Foundation is an equal opportunity lender, provider and employer.
			© 2006. All Rights Reserved.