Bill > SF2828

This bill appropriates $4 million in fiscal year 2026 to the Minnesota Department of Employment and Economic Development, specifically for a grant to Isuroon, a nonprofit organization focused on supporting microbusinesses. The funds will be used to provide loans and grants to small businesses, deliver technical assistance and training to entrepreneurs, and establish a business incubator program. The bill prioritizes businesses owned by women, immigrants, and members of communities of color in Minnesota. Isuroon will be required to submit a comprehensive report by January 15, 2027, detailing the number and amount of loans and grants distributed, demographic information about recipients, and the outcomes of supported businesses, including metrics like revenue growth and job creation. The appropriation is a one-time funding allocation, and the program will become effective on July 1, 2025. The bill aims to promote entrepreneurship and economic growth in underserved communities by providing financial support, resources, and professional guidance to microbusinesses.

Labor and Employment

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF2828&ssn=0&y=2025