Public and Private Financing Resources

Commercial Rehab Forgivable Loan Program – Windom EDA

A Forgivable Loan Program available to all commercial businesses in Windom.

• 1/3 Paid by Business
• 1/3 Forgivable Loan
• 1/3 Repayable Loan

Cottonwood County Seep Capital Fund

Funds to assist investors or existing businesses in the first stages of the development of a new product.  Eligible applicants may be either start-up businesses or expansion projects in Cottonwood County.

The type of businesses include, but are not limited to, those engaged in:

• Technologically innovative industries
• Value added manufacturing
• Agriprocessing
• Information industries
• Agricultural marketing
• Tourism
• Diversified industries
• Unique Services
• Non-competitive retail development
• Projects that support economic development

Southwest Initiative Foundation

The Southwest Initiative Foundation enhances the economic vitality of Southwest Minnesota by providing four specialized loan programs.

The Direct Business Loan Fund helps central Minnesota companies create or retain quality jobs by filling gaps in business financing packages. Targeted industries include value-added agriculture, natural resource-based manufacturers, and industries utilizing technology in manufacturing processes. Loans range from $50,000 to $250,000.

The Technology Capital Fund invests in two types of enterprises: entrepreneurs launching emerging technology ventures and established companies integrating proven productivity applications into their business operations. Investments range from $50,000 to $500,000.

The Seed Capital Fund advances emerging entrepreneurial ventures by financing product concept, development and market research. In return for investments up to $50,000, the Initiative Foundation negotiates company equity or royalties that reflect the incurred risk.

The Microenterprise Loan Guarantee Fund increases local ownership or expansion of small businesses — especially among underserved populations. It targets women, minorities, young adults and people with low net worth, but funds other applicants as well. The fund protects banks and lenders against loan default by underwriting up to $50,000 through a simple guarantee contract.

Microenterprise Loan Program – Southwest Initiative Foundation

Bright Beginnings Loan Program

Invest in our kids by equipping quality child care providers

Designed to support the business of child care by providing capital and business education to those starting or expanding licensed child care (either home or center based) businesses in southwest Minnesota.

Commercial Lenders – Local Financing Options

United Prairie Bank

1545 1st Avenue
Hwy 60 East
Windom, Minnesota 56101
Phone: 507-831-3000
Contact: Jeremy Janssen

Bank Midwest

245 9th Street
PO Box 289
Windom, Minnesota 56101
Phone: 507-831-1322
Contact: Juhl Erickson

Fulda Area Credit Union

866 1st Avenue N.
Windom, Minnesota 56101
Phone: 507-831-3700
Contact: Wayne Maras

Bank of the West

203 10th Street
PO Box 219
Windom, Minnesota 56101
Phone: 507-831-2323
Contact: Doug Tuin

USDA

USDA Rural Development operates over fifty financial assistance programs for a variety of rural applications. Select a category that best describes your situation, and see what RD can do to assist you. We also offer a list of all programs.

Department of Employment and Economic Development

Starting. Managing. Growing. At any stage, DEED has the right tools and expertise to help you succeed