DEED Announces the Automation Loan Participation Program   

Information below is being shared from a Nov. 29, 2022, DEED newsletter.

The Minnesota Department of Employment and Economic Development (DEED) launched the Automation Loan Participation Program this week as part of the recently announced $97 million through the State Small Business Credit Initiative (SSBCI).  

This program provides companion loans from DEED to cover financing gaps and expand financing opportunities for businesses purchasing machinery, equipment, or software to increase productivity and automation.   

DEED loans through the new program can be worth up to $500,000 and need to be made in conjunction with private financing. Applications are open now. Full terms and requirements are available on DEED’s website. 

Information below is being shared from a Nov. 29, 2022, DEED newsletter.

The Minnesota Department of Employment and Economic Development (DEED) launched the Automation Loan Participation Program this week as part of the recently announced $97 million through the State Small Business Credit Initiative (SSBCI).  

This program provides companion loans from DEED to cover financing gaps and expand financing opportunities for businesses purchasing machinery, equipment, or software to increase productivity and automation.   

DEED loans through the new program can be worth up to $500,000 and need to be made in conjunction with private financing. Applications are open now. Full terms and requirements are available on DEED’s website.