Entrepreneur Fund

Our team appreciated the opportunity to attend and present at the Connecting Entrepreneur Communities Conference at Iron Trail Motors Event Center in Virginia this week. Events like this highlight the importance of strong community support systems that help entrepreneurs and small businesses succeed. Investing in local businesses strengthens our regional economy and ensures long-term growth. Shoutout EFund business beveloper JoAnn Smith for leading a breakout session on relief funding and the impact of the City of Cook Recovery Fund. This partnership between EFund, Department of Iron Range Resources & Rehabilitation, and the City of Cook has been instrumental in providing vital support to businesses recovering from the summer 2024 flood. Thank you to everyone who organized and presented at this important gathering, bringing together leaders committed to supporting small businesses. When we invest in local businesses, we’re investing in the future of our communities. University of Minnesota Extension, Department of Iron Range Resources & Rehabilitation, Northspan Group, Inc., Minnesota Department of Employment and Economic Development, Northland Small Business Development Center, Iron Trail Motors Event Center and more!

In a letter to the U.S. Department of the Treasury signed by OFN's 470+ members, we thank Secretary Scott Bessent for reaffirming the key role of CDFIs in the Administration's economic agenda, and for underscoring the Community Development Financial Institutions Fund (CDFI Fund)'s statutory basis. CDFIs are critical to supporting small businesses growth, increasing the supply of affordable housing, and building stronger communities across the nation. Read our letter here: https://bit.ly/4ipTXRq Take action now to support the CDFI Fund: https://bit.ly/43Q4BtY

Night 3 of Be Strategic is all about financial clarity—and our Ashland class got a deep dive this week with EFund Business Advisor Emily Roose leading the way! Here's a sneak peek at what's covered in week 3: ✅ How to adjust pricing for inflation and rising costs ✅ The power of a profit & loss statement, balance sheet, and cash flow projections ✅ How to use a break-even analysis to make smarter decisions 📣 Grand Rapids business owners—you're up next! Emily is leading the full 6-week Be Strategic course starting Thursday, April 10, and only a few spots remain! 🔗 Apply now and take charge of your business’s future: https://lnkd.in/g8-GAM6b PLUS, thanks to the Duluth Superior Area Community Foundation, the entire 6-week course is just $120! That’s only $20 per session to build a solid growth plan for your business. Be Strategic is more than a course—it’s a community. Join business owners from non-competing industries to collaborate, share insights, and tackle common challenges while navigating a comprehensive strategic business growth curriculum. #smallbusiness #minnesota #wisconsin #smallbusinessgrowth #entrepreneur

This is why we do what we do—for the entrepreneurs with bold ideas who push through challenges to build something great. As a CDFI, we’re here to support them every step of the way with accessible capital and advising. Today, this business is thriving, and we couldn’t be more proud!

The Initiative Foundation was one of the country's first Community Financial Development Institutions (CDFI), certified more than 25 years ago to serve underinvested people and places in our region with low-interest small business loans and trainings. We've since delivered more than $70 million in loans to hundreds of daring entrepreneurs meeting community needs and providing good jobs. Each dollar leverages $8-$10 in private capital - up to $700 million for Central Minnesota. Each business is a critical piece of a healthy, vital town. We train hundreds of entrepreneurs each year, logging thousands of hours preparing them to be successful. You see just a few of those faces of success in these photos. In many cases, these businesses may not have started, or grown, without our support. In many communities, they are the only ones - the manufacturers, childcare centers, hardware stores, resorts, assisted-living facilities, veterans’ services organizations, restaurants, main street retail stores, and many more. We take risks alongside these business owners by lending them capital they can't get anywhere else - it's our mission as a nonprofit. There are few federal programs better designed to leverage private investments and support rural communities. Few agencies with stronger or deeper bipartisan support from Congress. So we're distressed by the administration's call last week to close the CDFI Fund, which helps CDFIs with the capital we need to do good work. We're grateful to see bipartisan support in response, glad to be part of efforts through the Minnesota CDFI Coalition Opportunity Finance Network and others, and are cautiously hopeful the CDFI Fund will endure. Regardless, our mission of training and lending to underserved entrepreneurs across our region will continue, alongside all the amazing CDFIs in Minnesota - Propel Nonprofits Northwest Minnesota Foundation Northland Foundation Habitat for Humanity of Minnesota (LEDC MN) Latino Economic Development Center AFRICAN ECONOMIC DEVELOPMENT SOLUTIONS African Development Center HAP (Hmong American Partnership) First Children's Finance Community Reinvestment Fund, USA Local Initiatives Support Corporation (LISC) Minnesota Consortium of Community Developers Greater Minnesota Housing Fund Leech Lake Financial Services Inc. WomenVenture Entrepreneur Fund Neighborhood Development Center MEDA - Metropolitan Economic Development Association Midwest Minnesota Community Development Corporation One Roof Community Housing Shared Capital Cooperative Sunrise Banks BUILD WEALTH MN INC - and more!

Protect Small Businesses—Support the CDFI Fund Community Development Financial Institutions (CDFIs), like the Entrepreneur Fund, are a vital source of capital for small businesses, housing, and community projects—especially in rural and underserved areas. They fuel job growth, expand economic opportunity, and provide essential funding where traditional banks often can’t. The CDFI Fund has strong bipartisan support, yet a recent Executive Order could significantly impact its future. The Impact of CDFIs: 📌 Every $1 invested in a CDFI is leveraged 8-12x by private investment. 📌 CDFIs help businesses grow, create jobs, and strengthen local economies. 📌 In times of crisis, CDFIs are “first responders,” ensuring businesses get the support they need. Impact in Our Region—From 2021-2023, EFund has: ➡️ Served 3,450+ entrepreneurs ➡️ Provided $73.7M in small business lending ➡️ Helped businesses create or sustain 9,800+ jobs Show Your Support: If your business has received funding from the Entrepreneur Fund, or if you've partnered with our team on a project, you've directly benefited from the CDFI Fund. We encourage you to share how this funding has helped your business grow—perhaps you’ve added full-time employees, expanded to a new market, or invested in new equipment. Your story and your experience helps show why CDFIs matter. 📢 Tag us - Entrepreneur Fund 📢 Use #ProtectTheCDFIFund #CDFIsInvest 📢 Help others see how CDFIs drive economic success Together, we can highlight the power of CDFIs and ensure small businesses continue to succeed across Central and Northeastern Minnesota and Northern Wisconsin.

Happy SBDC Day! Today, we celebrate and recognize the incredible work of Small Business Development Centers (SBDCs) across the country! We are especially grateful for our strong partnerships with SBDCs in Minnesota and Wisconsin that help us in elevating small business success in our region. A huge shoutout to our local SBDCs: 📍Northland Small Business Development Center 📍North Central Small Business Development Center 📍Central MN SBDC 📍Wisconsin SBDC Network 📍Small Business Development Center at UW-Superior 📍UW-Green Bay Small Business Development Center 📍Small Business Development Center at UW-Stevens Point We work closely with the partners above by referring entrepreneurs to their advisors to refine and strengthen their business plans and financial projections. Once their plans are solidified, SBDC advisors often refer them back to our team for funding opportunities and additional advising to support their next stage of growth. This collaborative partnership ensures that small business owners receive the guidance, resources, and capital they need to succeed. Together, we are building strong communities sustained by entrepreneurship. #SBDCDay #strongpartnerships #cdfipartner #entrepreneurs #minnesota #wisconsin #smallbusiness

Strong partnerships = stronger businesses! That’s why we partner with banks to help small businesses access the capital they need to succeed. We don’t compete—we complement, filling the gaps and enabling more deals to happen in our communities. Discover how this powerful partnership boosts long-term financial stability for business owners across our region: https://lnkd.in/gMyim_4v

How are the recent tariffs impacting local businesses? Jason Wobbema, president of Hibbing-based Advanced Machine Guarding Solutions , has seen the ripple effects of the new 25% tariffs on steel and aluminum—even though his company sources materials from just down the road. "In the last couple of weeks, since the tariffs were announced, we have seen domestic prices increase — and that comes every time there are tariffs that are being announced or enforced," he told MPR News host Cathy Wurzer during an interview last week. Despite the challenges, Wobbema remains committed to using domestically produced steel, reinforcing the importance of supporting industries on the Iron Range. Listen to Jason's full interview with MPR News here: https://lnkd.in/d_QxviJF

So exciting to see our clients, David and Brianna, featured in this KSTP news story! The owners of Sweetbriar Ridge, located near Pine City, Minnesota, offer a unique "glamping" experience in cozy geodomes. Their business was born from a deep connection to nature. David, a paramedic for 15+ years, uses nature to process challenging experiences, while Brianna, a professional interpretive naturalist with 12+ years of experience, guides people of all ages to enjoy the outdoors. Together, they created Sweetbriar Ridge to help others "experience the healing power of the outdoors while also resting in comfort." We’re incredibly proud to support them on their small business journey and can’t wait to see where their passion for nature takes them next! 💚 ➡️ Learn more about them by watching the full news story: https://lnkd.in/eNGfT2PB ➡️ Or by visiting their website: https://lnkd.in/eHtpR6HH