Description/Purpose:
The Northeast Entrepreneur Fund assists people considering starting or expanding a small business with planning including developing the idea, targeting markets, determining financial feasibility, and setting personal and business goals. The Entrepreneur Fund helps prepare people to find financing through its own loan fund or through other traditional and non-traditional sources. The loan fund is a flexible source of financing for people who have no other access to capital. Fees, charged for consulting services and workshops, are based on a sliding scale according to family income. The introductory session is free of charge.

Loan Amounts:
The loan minimum is $100 and the loan maximum is $100,000.

Eligible Applicants:
Residents who live in and locate their business in Aitkin, Carlton, Cook, Itasca, Koochiching, Lake or St. Louis counties. Applicants must have a realistic business plan and can show a need for financing.

Other Funding Required:
None.

Other Special Requirements:
None.

Allowable Use of Proceeds:
Equipment, inventory, working capital.

Term of Loan:
Variable, 30 days to six years.

Interest Rate:
Fixed for the term of the loan, at market rates.

Application Process:
All inquiries pertaining to the Northeast Entrepreneur Fund should be directed to:

Name: Northeast Entrepreneur Fund, Inc.
Address: 8355 Unity Drive, Suite 100

Virginia, MN 55792
Phone: (800) 422-0374
Fax: (218) 749-5213
Email: info@entrepreneurfund.org