Southern Minnesota Initiative Foundation approved funding from its loan and equity funds to 31 businesses in 2018, investing more than $1.2 million in its 20-county region, according to a press release. Two of the businesses that SMIF invested in are located in Albert Lea. Funding for both was approved from SMIF’s small enterprise loan program.

The first business, Daisy Blue Naturals LLC, started in 2002. Daisy Blue Naturals makes natural self-care products including body lotions and butters, soaps, makeup, baby products and home products. SMIF’s loan was used to expand product and rebrand the company.

The second business, Expressions Salon and Spa (J.A. Expressions LLC) started in 2001 and has been in its current location for 10 years. It is a full-service salon. SMIF’s loan was used on improvements to update the business’s look, including new furniture, equipment and supplies, and to rebrand. SMIF partnered with the city of Albert Lea on financing.

SMIF provides a range of finance and management assistance services to start and grow businesses. To learn more, contact Marcia Haley at 507-214-7021 or marciah@smifoundation.org or Diane Lewis at 507-214-7014 or dianel@smifoundation.org.

SMIF is an equal opportunity lender. These loans were funded in part through a cooperative agreement with the U.S. Small Business Administration. For a complete list of businesses that SMIF funded in 2018, see smifoundation.org/investments.