Bill > HF2719

This bill appropriates $4 million in fiscal year 2026 to the commissioner of employment and economic development to provide a grant to Isuroon, a nonprofit organization focused on supporting microbusinesses in underserved communities. The funding will be used to provide loans and grants to microbusinesses, 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. Specifically, the grant will support microbusinesses by helping them cover start-up costs, build capacity, improve business sustainability, and access shared resources, mentorship, and professional networks. Isuroon is required to submit a report by January 15, 2027, detailing the number and amount of loans and grants distributed, demographic information of recipients, and the program's outcomes, including revenue growth, job creation, and business incubator participation. The bill becomes effective on July 1, 2025, and is a one-time appropriation aimed at promoting entrepreneurship and economic growth in underserved communities.

Labor and Employment

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF2719&ssn=0&y=2025