Governor Walz Secures $97 Million for Small Business Support in Minnesota

[ST. PAUL, MN] – Today, Governor Tim Walz and the Minnesota Department of Employment and Economic Development (DEED) Commissioner Steve Grove announced they secured nearly $100 million in new funding to support small businesses through the State Small Business Credit Initiative (SSBCI).

The federal government has approved Minnesota for up to $97 million in small business financing support, which allows DEED to carry out its commitment to helping small businesses grow and succeed. Minnesota will receive funds in three disbursements over several years; the initial disbursement from the U.S. Treasury is approximately $29.5 million.

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