Minnesota SF3174 allocates $1,000,000 for a grant to Fortis Capital to establish a revolving loan fund.

Minnesota SF3174 provides $1,000,000 in fiscal year 2026 from the general fund to the commissioner of employment and economic development for a grant to Fortis Capital. This fund aims to support commercial development activities in underserved communities and entrepreneurs from disadvantaged groups. The fund will focus on partnerships with private sector lenders and other nonstate sources to maximize impact. Fortis Capital must report on the use of funds and program outcomes by December 31, 2028.

Minnesota SF3174 allocates $1,000,000 for a grant to Fortis Capital to establish a revolving loan fund.

Minnesota SF3174 provides $1,000,000 in fiscal year 2026 from the general fund to the commissioner of employment and economic development for a grant to Fortis Capital. This fund aims to support commercial development activities in underserved communities and entrepreneurs from disadvantaged groups. The fund will focus on partnerships with private sector lenders and other nonstate sources to maximize impact. Fortis Capital must report on the use of funds and program outcomes by December 31, 2028.