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Find similar grantsReservist and Veteran Business Loan Program is sponsored by Minnesota Dept. of Employment & Economic Development. For companies with employees called to active duty and veterans returning from active duty.
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Minnesota Department of Employment and Economic Development Menu help: you can navigate through the menu using your arrow keys or tab/shift-tab key. Use the spacebar to toggle and move to sub-menus.
DEED Business Financing Programs Reservist and Veteran Business Loan Program MN Reservist and Veteran Business Loan Program The Minnesota Reservist and Veteran Business Loan Program provides business loans to companies that are affected when certain employees are called to active military duty and to individual veterans who have returned from active duty and want to start their own business.
Contact Karen Schwieso at 651-259-7445 or karen. schwieso@state. mn.
us. Loans Eligibility Application Process These loans are for existing small businesses that have an essential employee called to active service in the military reserves for 180 days or longer, causing a substantial economic injury to the business due to the employee's absence. These loans are for recently service separated veterans seeking financial assistance to start their own small businesses.
Both types of loans provide one-time, interest-free loans of $5,000 to $20,000. The loan terms are 54 months, with no repayment for the first 18 months and equal monthly payments over the remaining 36 months. The financing comes from the program's revolving loan fund, which has a total of $400,000 available.
Applications are accepted and loans disbursed until all funds are committed.
Minnesota Reservists and Veteran Business Loan Program Fact Sheet DEED Business Financing Programs Minnesota Investment Fund Minnesota Job Creation Fund Minnesota Foreign Trade Zones Emerging Entrepreneur Loan Program Native American Business Loan Program Reservist and Veteran Business Loan Program Minnesota 21st Century Fund Minnesota Main Street Economic Revitalization Program Child Care Economic Development SBIR-STTR Federal Funding for High-Tech Companies State Small Business Credit Initiative EB-5 Immigrant Investor Program Community Wealth Building Cannabis Industry Navigation Program (CanNavigate) Cannabis Industry Startup Financing (CanStartup) Additional DEED Programs to Assist Cannabis Businesses Promise Act Grant Program Small Business Environmental Improvement Loan Emerging Developer Fund Program DEED Training Grant Programs Business Finance Guidance Work Opportunity Tax Credit Employer Reasonable Accommodation Fund Support for Cannabis Businesses Get Help From Our Experts Layoff and Business Closure Resources Minnesota Employment Review Events for Career Seekers Get Help From Our Experts Minnesota Department of Employment and Economic Development An Equal Opportunity Employer and Service Provider
Based on current listing details, eligibility includes: See the Minnesota grants portal for complete eligibility requirements. Applicants should confirm final requirements in the official notice before submission.
Current published award information indicates See Minnesota state grant listing for funding details. Always verify allowable costs, matching requirements, and funding caps directly in the sponsor documentation.
The current target date is rolling deadlines or periodic funding windows. Build your timeline backwards from this date to cover registrations, approvals, attachments, and final submission checks.
Federal grant success rates typically range from 10-30%, varying by agency and program. Build a strong proposal with clear objectives, measurable outcomes, and a well-justified budget to improve your chances.
Requirements vary by sponsor, but typically include a project narrative, budget justification, organizational capability statement, and key personnel CVs. Check the official notice for the complete list of required attachments.
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Review timelines vary by funder. Federal agencies typically take 3-6 months from submission to award notification. Foundation grants may be faster, often 1-3 months. Check the program's timeline in the official solicitation for specific dates.
Many federal programs offer multi-year funding or allow competitive renewals. Check the official solicitation for continuation and renewal policies. Non-competing continuation applications are common for multi-year awards.