On Air Now

Current Show

News & Views with Joel Heitkamp   8:30 AM - 11:00 AM

Call News & Views at 800-880-5346 or 701-237-5948

Show Info »

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 790 AM Fargo-Moorhead

Weather

Current Conditions(Fargo,ND 58103)

More Weather »
44° Feels Like: 35°
Wind: E 25 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Sunny/Wind 60°

Tonight

Clear 33°

Tomorrow

Partly Cloudy 68°

Alerts

New Minn. loan fund geared toward start-up firms

Gov. Mark Dayton
Gov. Mark Dayton

ST. PAUL, Minn. (AP) - Minnesota has a new loan fund for start-up businesses that offers them up to $250,000 in interest-free help.

Gov. Mark Dayton and his top economic development official described the Angel Loan Fund on Thursday. It is a supplement to a tax credit that is meant to incentivize private investment in companies just getting off the ground.

Entrepreneurs with Minnesota-based businesses and fewer than 500 employees can tap into the $6.7 million loan fund to help with equipment purchases, construction and other needs. They don't have to pay it back for seven years, when a balloon payment comes due.

Department of Employment and Economic Development Commissioner Katie Clark Sieben says the goal is to have businesses attract private investment of $10 for every public dollar put in.

Comments

Comments are not enabled for this article.