Business Capital

Small Business Impact Fund


MBCC is committed to the economic development of the African American community, which includes both the direct and indirect benefit to the African American community through the support of its members and affiliate business. We have determined that bringing leveraged capital access to this community, will provide real and substantial impact to the community by helping distribute capital to targeted communities which will help create jobs, and encourage an exciting new way of doing reciprocal business with organizations that receive capital. MBCC's goal is to leverage capital and business support to build a stronger sustained business community beginning with the Small Business Impact Fund (SBIF). Special emphasis will be placed on lending directed toward African American owned businesses and entrepreneurs.

The purpose of this program is to provide loans to small businesses in North Minneapolis that cannot currently obtain credit from conventional sources. Preferences will be given to business opportunities that create or retain local employment.


  • Loan funds must be used by existing, or, planned businesses, or, locations in North Minneapolis and demonstrate that the use of funds will substantially benefit North Minneapolis (primarily zip codes 55412 and 55411)
  • Loan clients must join the Black Chamber of Commerce
  • Loan amounts will be $25,000 or less

Client Benefits
  • Business Foundation
  • Mentoring
  • Post Loan Technical Assistance
  • Business Technology Services

Advisory Committee
The Advisory Committee is the Chamber's conduit to what is happening in the community. Established to annually review the impact of the distributed funds, current business trends, and challenges. This is an independent advisory group to the Chamber.
Acceptable loan uses include:
  • Short term project financing
  • Equipment and small tools
  • Inventory
  • Start-up costs
  • Build-out
  • Working Capital
Prohibited use of funds:
  • Refinancing of any existing debt
  • Payment of taxes, fines, fees, or liens
  • Financial support of the owner(s) (salary or draw) during the pre-loan period
  • Purchase of real estate, capital improvements, or equipment where the cost cannot be recovered during the contract period
  • Purchase of an interest in any enterprise owned by another individual
  • Loans related to certain business types or products selected by the MBCC including, but not limited to, liquor, pornography, tobacco, check cashing, and gambling

For more information about SBIF, click on the button below.