Greater Bemidji Receives Funds for Entrepreneur Loan Program
The Minnesota Department of Employment and Economic Development (DEED) has awarded grants totaling $3.1 million to 26 nonprofit organizations in the state that provides business loans through DEED’s Minnesota Emerging Entrepreneur Loan Program. One of the the 26 nonprofit organizations that was awarded funds is Greater Bemidji.
The Entrepreneur Loan Program supports the growth of businesses owned and operated by people who identify as Black, Indigenous, People of Color (BIPOC), low-income persons, women, veterans and/or persons with disabilities.
“Now more than ever, the Emerging Entrepreneur Loan Program is a great platform to empower the growth of small businesses that might not otherwise have access to capital,” said DEED Commissioner Steve Grove. “Our economic recovery must create jobs in communities hardest hit by the pandemic, and that’s exactly what these entrepreneurs will do.”