Southern Minnesota Initiative Foundation

CARES ACT RLF

SOUTHERN MINNESOTA INITIATIVE FOUNDATION, MN THE SMALL BUSINESS ADMINISTRATION (SBA) MICROLOAN PROGRAM PROVIDES DIRECT LOANS AND GRANTS TO ELIGIBLE NON-PROFIT MICROLENDERS SO THAT THEY MAY PROVIDE MICRO-LEVEL LOANS, AND BUSINESS BASED TRAINING AND TECHNICAL ASSISTANCE TO START- UP, NEWLY ESTABLISHED AND GROWING SMALL BUSINESS CONCERNS.

MICROLOAN

MICRO LOAN PROGRAM

MICROLOAN GRANT PROGRAM

THE SMALL BUSINESS ADMINISTRATION (SBA) MICROLOAN PROGRAM PROVIDES DIRECT LOANS AND GRANTS TO ELIGIBLE NON-PROFIT MICROLENDERS SO THAT THEY MAY PROVIDE MICRO-LEVEL LOANS, AND BUSINESS BASED TRAINING AND TECHNICAL ASSISTANCE TO START- UP, NEWLY ESTABLISHED AND GROWING SMALL BUSINESS CONCERNS.

MICROLOAN PROGRAM - TECHNICAL ASSISTANCE GRANT

MICROLOAN

SOUTHERN MINNESOTA INITIATIVE FOUNDATION - MN

THE AMERICAN RECOVERY AND REINVESTMENT ACT OF 2009

MICROLOAN TECHNICAL ASSISTANCE PROGRAM

MICROLOAN TECHNICAL ASSISTANCE PROGRAM

SOUTHERN MINNESOTA INITIATIVE FOUNDATION

THE SMALL BUSINESS ADMINISTRATION (SBA) MICROLOAN PROGRAM PROVIDES DIRECT LOANS AND GRANTS TO ELIGIBLE NON-PROFIT MICROLENDERS SO THAT THEY MAY PROVIDE MICRO-LEVEL LOANS, AND BUSINESS BASED TRAINING AND TECHNICAL ASSISTANCE TO START- UP, NEWLY ESTABLISHED AND GROWING SMALL BUSINESS CONCERNS.

MICROLOAN PROGRAM

TRAINING AND ONE-ON-ONE TECHNICAL ASSISTANCE TO SBA MICRO-LOAN PROGRAM BORROWERS AND PROSPECTIVE BORROWERS.

MICRO LOAN

MICROLOAN

SOUTHERN MINNESOTA INITIATIVE FOUNDATION - MN

SOUTHERN MINNESOTA INITIATIVE FOUNDATION WILL BE UPDATING AND COMPLETING A COMPREHENSIVE ECONOMIC DEVELOPMENT STRATEGY ALTERNATIVE FOR THE 11-COUNTY REGION KNOWN AS ECONOMIC DEVELOPMENT REGION 10. THIS REGION IS LOCATED IN THE SOUTHEAST CORNER OF MINNESOTA.

EDP

DEVELOP A CEDS

SOUTHERN MINNESOTA INITIATIVE FOUNDATION IS A REGIONAL DEVELOPMENT PHILANTHROPIC ORGANIZATION THAT FOSTERS ECONOMIC AND COMMUNITY VITALITY IN 20 COUNTIES OF SOUTHERN MINNESOTA THROUGH A CULTURE OF COLLABORATION AND PARTNERSHIP. WE ENVISION A PROSPEROUS AND GROWING REGION WITH VIBRANT COMMUNITIES, INNOVATIVE AND SUCCESSFUL ECONOMIES, AND ENGAGED AND VALUED CITIZENS. SMIF AIMS TO ADVANCE RURAL MINNESOTA IN WAYS THAT BENEFIT ALL. IN ORDER TO ACHIEVE OUR VISION OF A "PROSPEROUS AND GROWING REGION WITH VIBRANT COMMUNITIES, INNOVATIVE AND SUCCESSFUL ECONOMIES AND ENGAGED AND VALUED CITIZENS WE MUST CONTINUE TO ENCOURAGE AND ENABLE CULTURE AND ECONOMIC CONTRIBUTIONS FROM OUR IMMIGRANT AND REFUGEE COMMUNITIES. SOUTHERN MINNESOTA COMMUNITIES ARE CHANGING. THERE IS A 25% INCREASE IN MINORITY POPULATION FROM 2000-2015 IN THE AREAS WE SERVE. THIS WILL INCREASE BY 65% BY 2035. AT THE SAME TIME INCOME POVERTY RATE IN MINNESOTA IS 2.7 TIMES HIGHER FOR HOUSEHOLDS OF COLOR, SPECIFICALLY 26.6% FOR BLACK HOUSEHOLDS AND 20.1% FOR HISPANIC HOUSEHOLDS. COMMUNITIES NEED ASSISTANCE TO SUPPORT THIS NEW POPULATION IN OUR REGION, MOVE THEM OUT OF POVERTY AND INTO PROSPERITY. THIS REQUIRES IN MANY SITUATIONS SYSTEMIC PLANNING, STRATEGIC THINKING AND CAPACITY TO BUILD THE FRAMEWORK TO INSTILL NEW WAYS OF DOING THIS WORK. COMMUNITIES IN BOTH OUR RURAL ENTREPRENEURIAL VENTURES PROGRAM AND PROSPERITY INITIATIVE ARE FINDING THEIR GREATEST OPPORTUNITIES AND YET THEIR BIGGEST CHALLENGES IN THIS POPULATION AS A RESULT OF NOT HAVING THE EXPERIENCE, TOOLS AND PROCESSES TO BUILD A COMMUNITY WHICH REQUIRES ADDITIONAL FINANCIAL LITERACY, EMPLOYMENT AND INDIVIDUAL ASSETS. THIS PROPOSED PROJECT ALIGNS WITH THOSE OPPORTUNITIES AS PART OF THE ECONOMIC OPPORTUNITY FOCUS AREA OFFERED THROUGH CNCS. THIS VISTA PROJECT WILL SEEK TO IDENTIFY WAYS TO BUILD CAPACITY TO CREATE AN ENTREPRENEURIAL ECOSYSTEM WHICH BUILDS KNOWLEDGE PERTAINING TO FINANCIAL LITERACY, CREATES JOBS FOR BOTH EMPLOYER AND EMPLOYEES AND LEVERAGES THE ASSETS OF INDIVIDUALS WHO CAN PROVIDE THE TIME, TALENT AND RESOURCES TO CREATE AND SUSTAIN THIS WORK RESULTING IN LESS POVERTY AND MORE PROSPERITY. WE WILL SEEK FOUR (INCLUDING SMIF) SITES TO PARTICIPATE IN THIS YEAR LONG EFFORT AND SPECIFICALLY FOCUS ON ORGANIZATIONS WHICH DESIRE TO HELP JUMP START THIS WORK TO SUPPORT THE MINORITY POPULATION BASE AND WHO ARE PART OF OUR PROSPERITY INITIATIVE AND RURAL ENTREPRENEURIAL VENTURES INITIATIVES. THESE ACTIVITIES WILL INCLUDE BUT NOT BE LIMITED TO BASELINE UNDERSTANDING OF INVENTORYING MINORITY POPULATIONS STRUGGLING TO START OR GROW A COMPANY, TO CREATING A ROADMAP OF ASSISTANCE THROUGH A BUSINESS ASSESSMENT AND/OR SURVEY TOOL, CAPTURING THIS INFORMATION AND FORMULATING PROCESSES TO HELP INDIVIDUALS SUCCESSFULLY ACHIEVE THEIR GOALS AND ASPIRATIONS. THIS WORK MIGHT INCLUDE CREATING NEW DATABASE SYSTEMS TO TRACK PROGRESS, DESIGNING DIVERSITY TRAINING FOR LEADERSHIP TO CREATE A CLEARER UNDERSTANDING OF INDIVIDUALS WHO THEY WILL BE SERVING, AND CREATING EVALUATION TOOLS TO UNDERSTAND IMPACT AND LEARNING ALONG THE WAY. THIS WORK WILL REQUIRE A FULL 12 MONTHS TO COMPLETE AND/OR MAKE SIGNIFICANT PROGRESS.