This $1,250,000 Project Grant award from the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Program supports the Northeast Entrepreneur Fund, Inc. (doing business as Entrepreneur Fund), a certified CDFI, in delivering a range of financial services and technical assistance to underserved entrepreneurs and small businesses across northern Minnesota and northwest Wisconsin.
The CDFI Program uses monetary awards and training opportunities to invest in and build the capacity of CDFIs, empowering them to grow, achieve sustainability, and drive community revitalization. This award to the Entrepreneur Fund will enable the organization to provide microloans of $50,000 or less, financial literacy education, business planning assistance, networking opportunities, and technical training to help entrepreneurs, particularly women, minorities, and low-income individuals, start and grow their businesses. The award also supports the Entrepreneur Fund's efforts to expand access to healthy foods in underserved areas, deliver COVID-19 economic relief, and build organizational capacity as a CDFI. As a sub-grantee, the Entrepreneur Fund has partnered with local entities to extend its services, including providing technical assistance to low-to-moderate income small businesses, administering recovery grants, and supporting neighborhood business development initiatives.
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