Minnesota Automation Loan Participation Program
Eligibility Criteria
- Businesses must be located in Minnesota.
- Businesses should have a demonstrated need for automation technologies.
- The program primarily targets small and medium-sized enterprises (SMEs).
Pre-application Preparation
- Review the program guidelines and eligibility requirements to ensure your business qualifies.
- Assess your business's automation needs and determine the estimated cost of the project.
- Prepare any supporting documentation, such as financial statements and project proposals.
Application Process
1. Complete the application form, which can be downloaded from the program's official website. Download here.
2. Provide accurate and detailed information about your business, including its legal structure, contact details, and industry sector.
3. Describe the specific automation project you intend to undertake, highlighting its objectives and expected outcomes.
4. Include a breakdown of the estimated project costs, including equipment, installation, and training expenses.
5. Submit any supporting documents required, such as financial statements, tax returns, and project proposals.
6. Ensure that all information provided is accurate and up to date.
7. Submit the completed application form and supporting documents to SSBCI.DEED@STATE.MN.US
Review and Evaluation
- The submitted applications will be reviewed by the program's selection committee.
- The evaluation process may involve a thorough assessment of the project's feasibility, impact, and alignment with program objectives.
- Applicants may be contacted for additional information or clarification if needed.
Notification and Disbursement
- Once the evaluation process is complete, applicants will be notified of the decision via email or mail.
- If approved, the program administrators will work with you to finalize the loan agreement and disbursement details.
- Loan funds will be disbursed to the approved businesses according to the agreed-upon terms.
Please note that the above bullet points are intended to provide a general overview of the application process. For detailed information, I encourage you to visit the official website of the Minnesota Automation Loan Participation Program or contact John Endris directly at John.Endris@State.MN.US.