State Launches Loan Program for Small Businesses

UNDATED - Federal funds are now available for small businesses in Minnesota.

The Minnesota Department of Employment and Economic Development has been awarded $15.5 million in federal funding for programs that support small-business lending.

Direct loans of up to $150,000 are expected to help 1,200 small businesses, attract an additional $200 million in private investment, and create 3,000 new jobs.