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At the Paadio Grant Center, we empower micro, small, and medium businesses and community-based organizations (CBOs) by providing comprehensive support and resources to access vital grant opportunities. Our mission is simple: to be your trusted partner in navigating the complex world of grants, offering tailored assistance, expert guidance, and up-to-date information to help you succeed. Whether you're a startup seeking funding for growth or an established organization aiming to make a greater impact, we're here to champion your cause and drive positive change in your community. Explore our services, connect with our team, and embark on your grant journey with confidence. Welcome aboard!
CURRENT GRANTS - MAY 2025
Minnesota Expanding Opportunity Fund Program
Minnesota Expanding Opportunity Fund Program
Granting Organization/Business Unit: Minnesota Department of Employment and Economic Development (MN DEED)
Website: Minnesota Expanding Opportunity Fund Program
Overview
The Minnesota Expanding Opportunity Fund Program provides long-term loans to eligible Minnesota nonprofit corporations, Tribal economic development entities, and community development financial institutions (CDFIs). These loans are intended to increase lending activities and expand financing opportunities for Minnesota small businesses.
The program has a total appropriation of $10,000,000, available until June 30, 2025, or until all funds have been exhausted, whichever comes first.
Eligibility Criteria
To qualify for a loan under this program, the applicant must be a nonprofit corporation, Tribal economic development entity, or a community development financial institution (CDFI) and must meet the following criteria:
Employ fewer than 100 full-time equivalent positions
Meet the statutory definition of a community development financial institution (CDFI) as outlined in Section 103 of the Riegle Community Development and Regulatory Improvement Act of 1994 (U.S. Code Title 12, Sec. 4702)
Be currently enrolled and actively participating in one or more eligible federally funded state programs
Applicants should also demonstrate the following:
A board of directors or loan/credit committee with members experienced in small business services and community development
Technical skills to analyze small business loan requests
Familiarity with other public and private funding sources and economic development programs
Administrative capacity to manage a loan portfolio
Organizations receiving loans under this program must:
Establish appropriate accounting practices to track eligible loans
Cooperate with other organizations, including community development corporations, community action agencies, and Minnesota small business development centers
Submit annual reports to DEED by February 15 of each year
Application Deadline
June 30, 2025, or until all funds have been exhausted, whichever comes first
Loan Amount
Loans can be requested in increments of $100,000 up to $600,000
Contact Information
Linda Asilo
Phone: 651-259-7686
Email: Linda.Asilo@state.mn.us
