Bill > SF1945

This bill appropriates $1,000,000 from the state's general fund in fiscal year 2026 to the Minnesota Commissioner of Employment and Economic Development, specifically to be granted to the Entrepreneur Fund. The purpose of this grant is to support the fund's revolving loan programs, which aim to provide financial assistance for for-profit businesses in northeast Minnesota, including helping new businesses start up, existing businesses expand, and facilitating business ownership transitions. The bill specifies that this is a one-time appropriation, meaning the funding is not recurring and is intended for a specific, limited purpose. Revolving loan funds are financial mechanisms where repaid loans are recycled back into the fund to provide additional loans to other businesses, creating a sustainable source of capital for local economic development.

Labor and Employment

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF1945&ssn=0&y=2025