There have been several recent postings, in light of St. Paul's recent initiative, that have asked about Minneapolis' efforts to aid minority small businesses. I have asked around and found the following information:
This year, the MCDA allocated $100,000 to the Minneapolis Consortium of Community Developers to provide Micro loans to very small neighborhood-based businesses (http://www.mcda.org/Services/Business/microloan.htm) . Historically, 80% of Micro loans in Minneapolis have gone to minority-owned businesses. Over the last six years, the MCDA has allocated over $500,000 to the Consortium for Micro loans. This year, the City initiated a new $1 million Empowerment Zone (EZ) loan program for small businesses within the EZ boundaries (http://www.ci.minneapolis.mn.us/citywork/ez/). The program is operated by the Minneapolis Consortium, the Neighborhood Development Center and Women Venture. The first group of loans in the new EZ program have all gone to minority-owned businesses in the Empowerment Zone. This year, the MCDA also has facilitated $1.8 million in real estate loans for inner-city minority business owners through the Capital Acquisition Loan program (http://www.mcda.org/Services/Business/capitalacq.htm). Projects have included a Hmong auto repair garage, a Latino tortillaria and several African-American-owned businesses including a construction company, a bakery and grocery store. The City, working through MCDA and the Empowerment Zone, has played the lead role in facilitating $90,000 in financing for the new coffee shop, Cafe Tatta Bunna, in the Minneapolis Urban League's Gleason Sudduth Center. Finally, the MCDA is planning a new technical assistance initiative with the University of St. Thomas targeted at immigrant-owned and minority-owned businesses. Robert Cooper Minneapolis Community Development Agency Community Outreach Department 105-5th Avenue South Minneapolis, MN 55401 voice: (612) 673-5239 fax: (612) 673-5212 web: http://www.mcda.org -----Original Message----- From: Shawn Lewis [mailto:[EMAIL PROTECTED]] Sent: Thursday, December 05, 2002 1:39 PM To: [EMAIL PROTECTED]; [EMAIL PROTECTED]; [EMAIL PROTECTED]; [EMAIL PROTECTED]; [EMAIL PROTECTED]; [EMAIL PROTECTED]; [EMAIL PROTECTED]; [EMAIL PROTECTED]; [EMAIL PROTECTED]; [EMAIL PROTECTED]; [EMAIL PROTECTED]; [EMAIL PROTECTED]; [EMAIL PROTECTED]; [EMAIL PROTECTED] Cc: [EMAIL PROTECTED] Subject: [Mpls] St. Paul launches minority business initiative $200,000 (What about Mpls?) St. Paul launches minority business initiative Mary Lynn Smith Published Dec. 5, 2002 St. Paul Mayor Randy Kelly announced a plan Wednesday to help strengthen the increasingly diverse city's minority-owned businesses and start new ones. "We need to recognize that the face of St. Paul is changing," said Martha Fuller, the city's planning and economic development director. And the city also recognizes that developing small businesses is the "economic engine" that will create new jobs and expand the tax base, she said. http://www.startribune.com/stories/462/3476082.html Shawn Lewis Agency Resource Associate Agency Services Department Greater Twin Cities United Way East Office 166 Fourth Street East, Suite 100 Saint Paul, MN 55101-1448 Work Phone (651) 291-8366 Fax Phone (651) 291-8353 Pager (612) 299-0434 Website http://www.unitedwaytwincities.org _________________________________________________________________ Add photos to your messages with MSN 8. Get 2 months FREE*. http://join.msn.com/?page=features/featuredemail _______________________________________ Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[EMAIL PROTECTED] Subscribe, Unsubscribe, Digest, and more: http://e-democracy.org/mpls _______________________________________ Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[EMAIL PROTECTED] Subscribe, Unsubscribe, Digest, and more: http://e-democracy.org/mpls
