Micro Loan Program Overview

Herberger Business School

Mission:

The St. Cloud State Microloan Program was created to be a partner within the community of St. Cloud and the Herberger Business School.

The program will unite the strength of the University and its students with the passion and determination of local entrepreneurs to contribute to the economic vitality of the local community and serve as a catalyst of student professional growth and development.

The goal of the Microloan Program is to build the local economy by providing technical/entrepreneurial expertise, educational assets, and small loans for individuals that ordinarily would not qualify for traditional financing.

Services Include:

  • Provide Loans of $1k - $25k
    • Funds may be used for:
      • Equipment
      • Capital Improvements
      • Property
      • Start-up expenses
    • Funds may NOT be used for:
      • Working capital in a cash business
      • Existing bills/debts
      • Items that do not generate income
  • Prepare businesses for loans of $1k-$25k
  • Guidance to starting your business
  • Assistance in development of established businesses
  • Day to day business recommendations
  • Provide resources to assist in business development such as:
    • Business education seminars
    • Information of other organizations available to assist your business

     

    Below are clients that were provided tent space at Summertime by Lake George through the MLP.

     

    Micro Loan Program Clients