Minnesota Nonprofits Launch Minnesota Inclusive Growth Fund

Small businesses can apply now for loans, access resources to help recovery MINNEAPOLIS – Mar. 3, 2022 – Minnesota small businesses can now apply for low interest financing of up to $200,000 from the Minnesota Inclusive Growth Fund (MIGF). The Fund is designed to increase access to flexible and affordable capital and small business support services for underbanked businesses across Minnesota that have suffered a direct economic disruption as a result of COVID-19 or civil unrest. Created by a group of five leading Minnesota-based small business support organizations collectively called the Catalyst Coalition, MIGF places an emphasis on long-term recovery, growth, and businesses in low-to-moderate income or underbanked communities. MIGF is designed to equip community small businesses and mission-driven small business lenders with the support required to meet the unique rebuilding and recovery needs of the communities they serve. The Fund offers two types of loans for small businesses that employ 20 or fewer employees or had less than $3 million in revenue in 2019. One loan for businesses seeking working capital and another for growth-stage businesses seeking financing for capital expenditures. “We encourage Minnesota small businesses impacted by the COVID-19 pandemic or civil unrest to visit and apply now,” said Anisha Murphy,

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