Forecast your costs and identify funding resources.

There are variety of financing options available for entrepreneurs and small business owners looking to start or expand businesses in Minneapolis. Before you start the process of raising or borrowing money, you'll need to determine startup costs and financial projections to estimate how much money you will need and how much you can afford. For assistance developing your financial plan or accessing funding sources, make an appointment with a business consultant through the City’s Business Technical Assistance Program (B-TAP).

Financial projections

SCORE Minneapolis provides a financial projection tool using an Excel workbook. It provides statements for the following below:

  • Funds Required to Start
  • Projected Profit and Loss
  • Cash Flow
  • Balance Sheet

Your financial projections using SCORE's tool

Funding sources

Nonprofit and community lenders

The Twin Cities has many nonprofit and community lenders, known as Community Development Financial Institutions, that are mission-driven and focused on serving entrepreneurs and small business owners who face barriers in obtaining loans or lines of credit from traditional banks. A CDFI may have fewer restrictions when making lending decisions and offer smaller loan amounts. Many CDFIs also provide technical assistance and business support programs.

Financing Resources


Business loans from banks are one of the most traditional funding sources for small businesses. Due to stricter underwriting criteria, lending decisions from banks is largely based on credit scores and collateral. It is important to have a business plan when pursing a small business loans from banks since they will want to see that you have a profitable business idea. The Small Business Administration offers several loan programs for small businesses that are administered through national, local, and community banks. To learn about the Small Business Administration (SBA) lending programs and connect with an approved SBA lender, check out the SBA's Lender Match.

See SBA Approved Lenders

Peer-to-peer lending and crowdfunding

Using online platforms, peer-to-peer lending, or crowdfunding, is a financing model where multiple individuals pool their money to provide investments or low-interest loans to entrepreneurs and small business owners. Crowdfunding can be used to raise money from your family, friends, and individuals who are connected to the online lending platform. There are several B-TAP providers who can help you set-up a crowdfunding campaign.

City of Minneapolis financing programs

The City of Minneapolis Community Planning and Economic Development (CPED) has developed a toolbox of financing programs designed to support small businesses located in Minneapolis. Most of these loan programs require that a private lender - such as a CDFI or bank - provide at least half of the loan amount before the City will provide the additional funding.

See City business development resources

Contact us

Small Business Team

Community Planning & Economic Development




Public Service Building
505 Fourth Ave. S., Room 320
Minneapolis, MN 55415