Loans over $35,000
We offer a variety of loan products up to $100,000 to help finance the growth of existing businesses that do not have reasonable access to other sources of financing.  We can be the sole lender or we can partner with other lenders to put together the amount and type of financing that the business needs to succeed.  Some uses of our loans include:

• Equipment
• Inventory
• Purchase order financing
• Real estate acquisition or improvements
• Working capital

Loans may vary case-by-case.  In general:

• Loan amounts up to $100,000
• Loan duration from 60 days to ten years
• Fixed interest rate

How to Apply
You may apply for an EXPANSION loan if:

• Your business is located in Aitkin, Carlton, Cass, Cook, Crow Wing, Itasca, Koochiching, Lake, Pine, or St. Louis Counties in Minnesota or Douglas County, Wisconsin.
• You live in one of the above counties or in an adjacent county.
• You have a realistic business plan that shows feasibility and viability of the business.
• You have two years of business operating history.
• You can show repayment of the loan through cash flow projections of the business.
• You submit financial reports after the loan.

Loan Application Process
Contact one of our consulting or lending staff to discuss your business needs.  If you meet the preliminary borrowing qualifications we will send you a pre-application for us to evaluate.  If you meet our pre-application criteria, we will work with you to acquire the information we need to present your request to our loan committee.  If you need help preparing a business plan, we can provide training, technical assistance and referrals.  Obtaining financing for you business can take time.  Contact our office early to ensure you have enough time to put together a quality business plan.

Click here to complete the NEF Customer Information Sheet online

Click here to print the Loan Application.

Click here for more information on eligibility.