1998 Minnesota Statutes

     116J.8745 Microenterprise entrepreneurial assistance. 

    Subdivision 1.    Technical assistance; loan 
 administration.  The commissioner of trade and economic 
 development shall make grants to nonprofit organizations to 
 provide technical assistance to individuals with entrepreneurial 
 plans that require microenterprise loans in an amount ranging 
 from approximately $1,000 to $25,000, and for loan 
 administration costs related to those microenterprise loans.  
 Microenterprise is a small business which employs under five 
 employees plus the owner and requires under $25,000 to start. 

    Subd. 2.    Grant eligibility and allocation.  Nonprofit 
 organizations must apply for grants under this section following 
 procedures established by the commissioner.  To be eligible for 
 a grant, an organization must demonstrate to the commissioner 
 that it has the appropriate expertise.  The commissioner shall 
 give preference for grants to organizations that target 
 nontraditional entrepreneurs such as women, members of a 
 minority, low-income individuals, or persons seeking work who 
 are currently on or recently removed from welfare assistance. 

    An application must include: 

    (1) the local need for microenterprise support; 

    (2) proposed criteria for business eligibility; 

    (3) proposals for identifying and serving eligible 
 businesses; 

    (4) a description of technical assistance to be provided to 
 eligible businesses; 

    (5) proposals to coordinate technical assistance with 
 financial assistance; and 

    (6) a demonstration of ability to collaborate with other 
 agencies including educational and financial institutions. 

    Subd. 3.    Grant evaluations.  Grant recipients must 
 report to the commissioner by February 1 in each of the two 
 years succeeding the year of receipt of the grant.  The report 
 must detail the number of customers served, the number of 
 businesses started, stabilized, or expanded, the number of jobs 
 created and retained, and business success rates.  The 
 commissioner shall report to the legislature on the 
 microenterprise entrepreneurial assistance.  The report shall 
 contain an evaluation of the results, recommendations to 
 continue or change the program, and a suggested level of funding.

    HIST: 1997 c 200 art 1 s 55