MNDOT Working Capital Loan Fund (WCLF)
The WCLF provides short-term financing to DBE's (Disadvantaged Business Enterprises) to help complete eligible Mn/DOT projects.
WCLF financing is for businesses that are financially healthy, but cannot obtain adequate financing from private lending institutions.
Meda manages and administers the WCLF for Mn/DOT in conjunction with Meda's other lending programs.
- Applicants may apply for up to $60,000 for multiple projects, but no more than $25,000 for a single project.
- Funds from the Mn/DOT WCLF are only for certified DBE firms under contract on Mn/DOT federally funded projects. This includes eligible projects let by local
agencies (Mn/DOT project numbers starting with SP or SAP).
- The Mn/DOT WCLF requires matching sources of
funding (Company, Vendor, Bank, or other) that equal or exceed the amount financed by the Mn/DOT WCLF.
- Interest rates not to exceed 8%.
- Loans are project specific and are to be repaid at the
completion of your portion of the contract.
- Eligible uses of funds include:
- Project mobilization
- Equipment rental
- Working capital