Biomass Feasibility Project Final Report - Xcel Energy

Contact:
Paul D. Moe, Director
Phone: 651-282-9814; Toll-free: 800-657-3858; TTY: 651-296-3900
E-mail: Paul.Moe@state.mn.us Website: www.deed.state.mn.us/mjsp/
Minnesota Indian Business Loan
The Minnesota Indian Business Loan Program supports the development of Indian-owned and
operated businesses to promote economic opportunities for Native American people
throughout Minnesota. Eligible applicants are enrolled members of a federally recognized
Minnesota-based band or tribe. Businesses receiving loans may operate anywhere in the state,
but most are located on reservations. Eligible costs include start-up and expansion expenses
(including those for machinery and equipment), inventory and receivables, working capital,
new construction, renovation, and site acquisition. Refinancing of existing debt is not permitted.
Each band or tribe receives funds from the Indian Business Loan Fund proportional to its number
of enrolled members. The Department of Employment and Economic Development (DEED)
administers the program and services loans, approved by the appropriate tribal council, that
can cover up to 75% of project cost. Owners must provide between 5% and 10% of the
financing needed to undertake the project, depending on the requirements of the lending
band or tribe.
DEED can accept applications, subject to the availability of funds, and forward them to the
appropriate tribal council for further consideration, or applicants can send them directly to the
council. Applications must include a business plan describing the business, its product or service,
management, organization, market, operations, and financial projections. The tribal councils
are:
• Bois Forte Reservation, 218-757-3263;
• Fond du Lac Reservation (Planning Division), 218-879-2642;
• Grand Portage Reservation, 218-475-2279;
• Leech Lake Band of Ojibwe, 218-335-8237;
• Lower Sioux Community, 507-697-6185;
• Mille Lacs Band of Ojibwe (Corp. Commission), 320-532-8817;
• Prairie Island Community, 651-385-2554;
• Red Lake Band of Chippewa, 218-679-3341;
• Shakopee-Mdewakanton Community, 952-445-8900;
• Upper Sioux Community, 320-564-3853;
• White Earth Reservation, 218-983-3285.
Bureau of Indian Affairs (BIA)
Bureau of Indian Affairs Loan Guaranty Program
The federal BIA Loan Guaranty Program guarantees loans made to tribe members up to 90% or
a maximum of $500,000. For details, go to: www.doi.gov/bureau-indian-affairs
Or contact:
Minneapolis Area Credit Office
Bishop Henry Whipple Federal Building
One Federal Drive, Room 550
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Identifying Effective Biomass Strategies:
Quantifying Minnesota’s Resources and Evaluating Future Opportunities