Under the guaranty program, the lender provides all of the money. Any corporation that engages in the business of making consumer loans for personal, family or household use must be licensed.We'll review the top five no-doc business loan providers serving Minnesota and explain their key features, benefits, eligibility, and application process. What are the application steps for the Minnesota SBEL? The Application Process: 1. Apply for and have your eligibility determined for other sources of financial aid, including federal and state grants. Flexible personal loans at Minnesota Valley Federal Credit Union. Competitive rates, quick approvals, and personalized service to meet your financial needs. The application should be made directly through a certified nonprofit lender.