So what can the funds be utilized for?
Allowable loan uses are equipment or gear acquisitions, upkeep, or fix; costs associated with stepping into or within Minnesota; and working money when the performing capital is guaranteed by fixed assets whenever possible. All uses must certanly be solely for Minnesota operations.
Can the funds be applied for company purchase and/or the purchase of building or land?
No, these uses are not authorized by the legislature.
Can the funds be properly used for building renovation or build-out expenses?
No, these uses are not authorized because of the Legislature.
Can the funds be properly used for company startup expenses?
The funds can be utilized for a few company startup expenses like buying equipment or working money, nonetheless they may not be employed for land or building purchase, business purchase, or building renovation/build-out as they uses aren’t qualified underneath the system. Continue reading