Walz Announces $10 Million Program to support small business 

Minnesota Governor Tim Walz and the Minnesota Department of Employment and Economic Development (DEED) launched a new program on Tuesday that will provide $10 million in low interest loans to small Minnesota businesses. 

In his press release Walz said that “Small businesses are foundational to Minnesota’s economic ecosystem – they’re at the heart of our communities, our workforce, and our state’s economy,” and that “This program will make it easier for small businesses to access loans that are critical for their growth and long-term success and help us build a thriving state economy.”

The $10 million in funding will be used to support entrepreneurs who have struggled to access capital through traditional bank loans. DEED also says that the fund is designed to support historically under-funded small businesses operated by women, people of color, or in Greater Minnesota.