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MN
Minnesota Community Wealth Building Program
Low-interest loans for community businesses owned by targeted populations.
About this program
The Community Wealth-Building Loan Program makes low-interest loans to cooperatives, employee-owned businesses, and commercial land trusts that are majority owned by targeted populations, with technical and legal assistance through MCCD.
Eligibility
Minnesota community businesses that are cooperatives, employee-owned businesses, or commercial land trusts and at least 51% owned by Black, Indigenous, People of Color, immigrants, low-income persons, women, veterans, or persons with disabilities.
Requirements
- Apply through Metropolitan Consortium of Community Developers
- Document shared ownership structure, targeted ownership, business plan, and financing need
- Complete technical assistance, underwriting, and loan compliance requirements