Learn how to access loan funds in order to grow your company and in turn create new jobs and new employee-owners.
Did you know that if you have less than 500 employees, there are loan funds available now from the MN Department of Economic Development (DEED) to help you expand your employee-owned business? The American Rescue Plan Act of 2021 reauthorized and funded the State Small Business Credit Initiative (SSBCI 2.0). Of the $10 billion dollars in SSBCI 2.0 funding, the State of MN was allocated $97 million dollars to empower businesses to access capital (via state-backed bank loans) needed to invest in job-creating opportunities as the country emerges from the COVID pandemic. Authorized uses of the SSBCI 2.0 funding include the expansion of employee-owned companies and the purchase of existing businesses using all forms of employee ownership.
Join us for a webinar on February 7, 2023 where Drew Lindorfer of the MN Department of Economic Development and Steve Storkan of the MN Center for Employee Ownership will share details about the SSBCI loan programs being administered by MN DEED and teach you how your business might go about accessing the loan funds in order to grow your company and in turn create new jobs and new employee-owners.