HOW TO ACCESS DEED'S NEW SMALL BUSINESS LOAN AND VENTURE FUNDING PROGRAMS
January 4, 2023
As a part of the 2021 American Rescue Act (ARPA) Minnesota was awarded up to $97 million through the State Small Business Credit Initiative (SSBCI). The SSBCI program is made up of six programs designed to fill financing gaps and operate in conjunction with private lenders. The Minnesota Department of Employment and Economic Development (DEED) will receive the funds in three disbursements, with the first being approximately $29.5 million.
All of the programs are first-come, first-serve, so it is vital to know what they are and whether your business is eligible. The Grow Minnesota!® team is here to help navigate these new programs. If you’d like assistance, please reach out to Sarah Erickson.