Minnesota HF2581 appropriates $1,000,000 for a grant to Fortis Capital to establish a revolving loan fund for underserved communities and.

Minnesota HF2581 allocates $1,000,000 from the general fund for a grant to Fortis Capital, a 501(c)(3) nonprofit, to create a revolving loan fund. This fund aims to provide risk-mitigating capital for commercial development in underserved communities and to entrepreneurs from disadvantaged groups. The fund will focus on partnerships with private sector lenders and other nonstate sources to maximize impact. Up to 10% of the funds may be used for Fortis Capital's operating costs. The grant is a onetime appropriation, available until expended.

Minnesota HF2581 appropriates $1,000,000 for a grant to Fortis Capital to establish a revolving loan fund for underserved communities and.

Minnesota HF2581 allocates $1,000,000 from the general fund for a grant to Fortis Capital, a 501(c)(3) nonprofit, to create a revolving loan fund. This fund aims to provide risk-mitigating capital for commercial development in underserved communities and to entrepreneurs from disadvantaged groups. The fund will focus on partnerships with private sector lenders and other nonstate sources to maximize impact. Up to 10% of the funds may be used for Fortis Capital's operating costs. The grant is a onetime appropriation, available until expended.