Contact Southwest Initiative Foundation
- Address
- 15 3rd Avenue, NW P.O. Box 428 Hutchinson, MN 55350
- Phone
- 320-587-4848
- Website
- swifoundation.org
Where they lend
Southwest Initiative Foundation is an SBA-approved microloan intermediary serving Minnesota.
What an SBA microloan is
The SBA does not lend directly. It funds intermediaries like Southwest Initiative Foundation, who lend up to $50,000 to small businesses and start-ups that banks usually turn down. The average loan is around $13,000, terms run up to seven years, and decisions rest with the intermediary rather than the SBA.
Almost every intermediary asks for the same things: a written business plan, financial projections, what the money is for, and your credit history. The plan is where most applications stall.
Before you apply
Southwest Initiative Foundation will ask for a business plan with your application. We write SBA-ready plans built for microloan applications, with the financial projections lenders expect.
