Fursad Fund Initiative grant funding provided to support small businesses in greater Minnesota through technical assistance, capacity building, and access to capital; and money appropriated.

HF 2111 allocates $1 million in fiscal year 2026 to fund the Fursad Fund Initiative, administered by the Center for African Immigrants and Refugees Organization (CAIRO), to support small businesses in greater Minnesota. It directly assists businesses outside the seven-county metro area owned by immigrants, refugees, or communities of color with fewer than 25 employees and demonstrated financial need. The initiative provides technical assistance (e.g., business coaching and financial literacy), capacity building (e.g., regulatory navigation), and access to capital (e.g., microloans and culturally aligned lending). CAIRO must report by July 2027 on program outcomes, including businesses served, capital deployed, job creation, and economic impact in greater Minnesota.