Learn More about CDFI's and Small Business Resources in Minnesota see here
While the federal government does not provide grants for starting or growing small businesses, one of the mechanisms in place to promote small business growth and economic development is the Community Development Financial Institution Fund managed by the US Department of the Treasury.
Community Development Financial Institutions fall into four categories:
African Development Center
CAPITAL CITY PROPERTIES
Community Reinvestment Fund, Inc
Dakota Futures, Inc.
Development Corporation for Children
Great Neighborhoods! Development Corp.
Greater Minnesota Housing Fund
Habitat for Humanity of Minnesota, Inc.
Indian Land Capital Company
Indian Land Tenure Foundation
Leech Lake Band of Ojibwe
Midwest Minnesota Community Development Corporation
National New Markets Tax Credit Fund, Inc
Neighborhood Development Center
Nonprofits Assistance Fund
University National Bank
The The Minority Business Development Agency has recently constituted the Minority Business Enterprise Centers (MBEC) Program wherein it aims to support minority-owned businesses by providing them with electronic and one-on-one business development services for a reasonably nominal fee.
The Recovery Capital Loans Program provides financial assistance to small business with less than 500 employees to obtain a deferred payment loan from the agency, in order to meet existing debt payments, thereby giving the business the opportunity to refocus their business strategy.