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MN unveils business loan program

By Doug Barrett Nov 13, 2023 | 7:53 AM

The Minnesota Department of Employment and Economic Development has launched a new effort to support and grow small businesses in Minnesota. The $10 million program will provide low-interest loans to small businesses.
The Expanding Opportunity Fund will target entrepreneurs who have struggled to access capital through traditional bank loans. The fund is designed to support historically under-funded small businesses operated by women, people of color, or in Greater Minnesota.
Lenders can receive up to $600,000 to provide low-interest loans to the small business owners they serve.

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