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Loan program helps veterans

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An expanded and renamed state program is offering loans of up to $20,000 apiece to recently retired military service members who want to start businesses, and also to small businesses that suffered due to loss of essential employees being called to military service, under a law passed in the 2010 legislative session.

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The Minnesota Department of Employment and Economic Development (DEED) is administrating the program, called the Minnesota Reservist and Veteran Business Loan Program.

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