Start A Business

FAIM Program funds can be used to begin a new business or expand an existing small business. The local FAIM agency shall determine the realistic possibilities of such ventures. FAIM participants must develop a qualified business plan.

Eligibility for FAIM
Participants must:

  • Be at least 18 years of age

  • Have earned income at the time of enrollment

  • Be a resident of Minnesota at time of participation in FAIM

  • Have assets of $10,000 or less

  • Deposit savings from earned income

  • Have combined income at or below 200% of poverty (see table below)

Participant’s income and assets may increase¬†after¬†entrance into the FAIM program.