Don’t miss next week’s informational session for DEED’s Minnesota Opportunity Fund! Hear from program staff and get answers to your questions on Monday, Nov. 20 at 3:00 pm on Microsoft Teams.
The Minnesota Expanding Opportunity Fund Program is a new state-funded program providing low-interest loans to nonprofit corporations. Lenders can receive up to $600,000 at one time to provide loans to the small businesses they serve. Applicants must be CDFIs that are currently enrolled and active in one or more federally-funded state programs. Learn more and apply here.
For questions, please reach out to Jason Burak at Jason.Burak@state.mn.us.
Background: DEED secured $10 million during the most recent legislative session for long-term loans to nonprofit organizations to increase lending activities with Minnesota small businesses. DEED will administer the Minnesota Expanding Opportunity Fund Program by providing direct loans to eligible nonprofit organizations.