What market does Milestone Growth Fund serve?
Milestone is focused on serving small businesses with significant ownership by entrepreneurs of color (those who identify as African-American, Asian-American, Latino, and/or Native American) that are located in the Minneapolis/St. Paul metropolitan area. Businesses located outside of the Minneapolis/St. Paul area will only be considered for investment if the request for funding comes from a lead investor.
How are Milestone’s investments typically structured?
Milestone normally makes long-term investments of $200,000 to $500,000 with warrants or stock options attached. Terms are normally three to five years with a graduated repayment schedule that includes interest only payments for the first 12 to 24 months.
What information should be included in my business plan?
A detailed outline of information Milestone is looking for in a business plan can be found here.
What other resources would Milestone recommend to small business owners?
There are a number of organizations that provide help with business development and/or financing, including the Small Business Administration, the Metropolitan Economic Development Association (MEDA), the State of Minnesota’s Department of Employment and Economic Development (DEED). For links to these and other resources, click here.