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Southern MN Initiative Foundation receives grant to help emerging entrepreneurs

Southern Minnesota Initiative Foundation
Southern Minnesota Initiative Foundation(KEYC News Now)
Published: Jul. 13, 2021 at 4:22 PM CDT
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OWATONNA, Minn. (KEYC) - Southern Minnesota Initiative Foundation, or SMIF, was awarded $100,000 to help emerging entrepreneurs.

SMIF was one of 26 nonprofits awarded funds by the Minnesota Department of Employment and Economic Development.

More than 3 million dollars was allocated to support businesses led by people of color, women, veterans and those with disabilities.

SMIF said the funds will help them further their work in economic and early childhood development.

“We invest it in three key areas: business lending and other support for new entrepreneurs in our region. We invest a lot in early childhood training programs in partnership with Abdo and Capstone Publishing companies,” said Tim Penny, President and CEO of SMIF.

SMIF said the funds will be distributed across 20 counties in southern Minnesota.

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