The Providing Resources & Opportunity & Maximizing Investments in Striving Entrepreneurs (PROMISE) Act Loan Program is a new, state-funded program that will provide loans to disadvantaged small businesses located in certain areas of Minneapolis and St. Paul.

The Department of Employment and Economic Development (DEED) Employer Reasonable Accommodation Fund (ERAF) creates a central fund where small to mid-sized Minnesota employers can request reimbursement for expenses related to providing reasonable accommodations for job applicants and employees with disabilities.

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.

Minnesota Inclusive Growth Fund (MIGF) has increased the max loan amount to $350,000 in financing at just a 5% fixed interest rate to eligible small businesses. As of November 13, 2023, the prime interest rate is 8.5% and we are excited to offer this below-market rate financing opportunity to help our local small businesses grow and thrive!   

Minnesota's Angel Tax Credit provides a 25% credit to investors or investment funds that make equity investments in startup companies focused on high technology, new proprietary technology, or a new proprietary product, process or service in specified fields. The maximum credit is $125,000 per person, per year ($250,000 if filing jointly). The credit is refundable. Residents of other states and foreign countries are eligible.