The 849-million dollars in U-S Small Business Administration-backed loans in Minnesota last year is 50 million more than 2023.
Minnesota District Director Brian McDonald says these loans are a good economic indicator…
“So I think the economy is particularly strong in Minnesota and we have a really great sector for S-B-A lending in particular. So our ecosystem here is really strong.”
McDonald says owners can use the SBA’s 7-A loan program to expand their business, acquire a business, or purchase equipment and other things.
Guaranteed loans of up to five-million dollars are available.
(content: courtesy MNN)
