State’s Fresh Funding Fuels Growth For Local Entrepreneurs

15 Jul 2025

News

The State of Minnesota has announced over $33 million in funding for small businesses. The funding is part of the Department of Employment and Economic Development's (DEED) State Small Business Credit Initiative (SSBCI), and the $33 million dollars is the second of three rounds of funding totaling $97 million. DEED has issued over $29 million of SSBCI funding to help 160 small businesses in 44 cities open, innovate, and expand.

The new funding is expected to help 225 developing and new businesses. The money will support six existing SSBCI programs: Automation Load Participation Program, Growth Loan Fund, Minnesota Loan Guarantee Program, Small Business Loan Participation Program, Direct Investment Venture Capital, and Multi-Fund Venture Capital. Businesses interested in the programs can learn more and find out how to connect with a lending partner on DEED's SSBCI page.

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