Minnesota's Angel Tax Credit provides a 25-percent credit to investors or investment funds that make equity investments in startup companies focused on high technology, new proprietary technology, or a new proprietary product, process or service in specified fields. $5M in credits was made available for 2022.
The Work Opportunity Tax Credit (WOTC) is a federal tax credit available to all private sector businesses as an incentive to employers to hire workers in certain groups who consistently experience high rates of unemployment.
The mission of the Minnesota American Indian Chamber of Commerce is to promote, Advocate and Create Economic Prosperity on behalf of American Indian businesses, organizations, professionals, and tribal enterprises in a global market.
Two-Percent Loans provide financing to small Minneapolis businesses (retail, service or light manufacturing) to purchase equipment and/or to make building improvements.
Hennepin County now has grants available to fund innovative projects that prevent waste in the business sector. Areas of focus can include prevention of food waste, reuse and recovery of goods and materials, and development and use of recovered products.
ADC offers the following services through Elevate Business:
- One-on-one business advising or coaching
- Loan and grant advisory services
- Navigation of Elevate Business resources and referrals
*Note: Elevate Business advisors provide professional consulting only. Any fees associated with websites, technology, or ongoing costs of implementing advisor recommended strategies such as marketing, websites or software the sole responsibility of the business owner.
The Equity Builder Loan Program is a cohort based, forgivable loan program for arts & cultural nonprofits. Around 20-40% of these working capital loans convert to grants, producing long-term unrestricted cash reserves for participating nonprofits.