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Milestone Growth Fund is a non-profit, tax-exempt 501 (c) (3) investment fund licensed by the U.S. Small Business Administration (SBA) to operate as a Small Business Investment Company (SBIC) and is certified by the Community Development Financial Institutions (CDFI). We are the only Minnesota-based SBIC that provides smaller amounts of long-term, high-risk, equity type financing and management assistance to minority entrepreneurs who belong to the African American, Asian, Hispanic, or Native American communities. Milestone's investment strategy focuses on early-stage companies located in the Twin Cities metropolitan area whose owners are committed to building successful businesses, bringing prosperity to their communities, and welcoming Milestone's financing and management assistance. This is a great opportunity to contribute to minority businesses, many of which have promising potential but which are underserved by the traditional financing service providers. We have invested across client company stage from start-up through expansion and acquisition. From an industry perspective, Milestone invests in a wide range of businesses including service, manufacturing, high tech, and communications industries. We prefer to be the lead investor in most transactions but will participate in larger syndicated investments to leverage staff, spread risk, and improve return on investment. Milestone will also consider out of metro area investments with strong lead investors. Our average investment size is about $300,000 but can range from $200,000 to $600,000. Investments typically take the form of long-term debt with equity features (warrants or stock options) but occasionally take the form of straight loans or equity. Repeatedly we see the ripple effect at work through the positive results that Milestone clients achieve through their thriving businesses. Our portfolio clients become business leaders – they join community boards, solve local problems, and even start their own social initiative to help their communities.
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