Dec. 15—BEMIDJI — Leech Lake Financial Services, Greater Bemidji and the Northwest Minnesota Foundation recently received funding from the Minnesota Department of Employment and Economic Development's Small Business Assistance Partnership.
DEED will award more than $12.5 million to nonprofit organizations, higher education institutions, community development financial institutions and community development corporations during this round of grants, a release said.
Leech Lake Financial Services, Greater Bemidji, the Northwest Minnesota Foundation and other awarded grantees will use this funding to provide small business development services to entrepreneurs and small business owners, with a particular focus on assisting individuals of underserved populations and geographies.
"Nearly three-quarters of the total grantees are focused on supporting Black, Indigenous and People of Color business owners and entrepreneurs," the release said. "The grants support the start-up, growth and success of Minnesota's entrepreneurs and small businesses through the delivery of high-quality free or low-cost professional business development, education, subject matter expertise and technical assistance services."
These projects are projected to serve almost 36,000 Minnesota small businesses and entrepreneurs through Oct. 31, 2025. The $12.5 million in state funding is matched by $21.8 million in funding from local, private and federal sources.
Of the $794,737 awarded in local funding, Leech Lake Financial Services of Cass Lake received $329,737, Greater Bemidji was awarded $305,000 and the Northwest Minnesota Foundation was granted $160,000.
The selection process focused on proposals that aligned with themes of equity, innovation and community vibrancy. Successful recipients demonstrated a clear plan to provide high-quality, culturally relevant services that will contribute to job growth, economic success and the prosperity of communities across the State of Minnesota, the release said.
Leech Lake Financial Services, Greater Bemidji and the Northwest Minnesota Foundation are just three of 41 organizations across the state to receive funding through this round of grants. More information can be found on the
Small Business Assistance Partnership Program on DEED's website.