Emerging Entrepreneur Loan Program

The Minnesota Department of Employment and Economic Development (DEED) is requesting proposals from qualified Responders that seek grant funding for the purpose of originating and servicing loans for the Minnesota Emerging Entrepreneur Loan Program (ELP). Grants will be awarded to nonprofit corporations, Tribal economic development entities, and community development financial institutions (CDFI’s). These grants are used to fund loans for businesses throughout the state that are majority-owned and operated by minority or low income persons, women, veterans, and persons with disabilities. The program is intended to encourage private investment, create jobs for minority and low income individuals, strengthen minority owned enterprises, and support economic development in low income areas.

Request for Proposals

• Request for Proposals
• Application Link

Deadline
Applications must be received no later than 4:30 p.m. Central Time, on May 22, 2026. Late applications will not be accepted. All costs incurred in responding to this RFP will be borne by the applicant.

Technical Assistance
Questions due no later than 4:30 pm Central Time: May 15, 2026. All questions regarding this RFP must be submitted by email to ELP@state.mn.us. Questions and answers will be posted within 10 days of receipt on the solicitation page.

Individuals with disabilities who need alternative formats can contact DEED at 651-259-7553 for assistance.