Informational Session for the Minnesota Expanding Opportunity Fund Program

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.