Elevate Hennepin Commercial Property Ownership Fund

In 2024 Hennepin County, committed $4.22 million to create more equitable access to capital. The financing opportunities are available through a competitively selected nonprofit community-based lender NextStage.  The purpose of the Commercial Ownership Fund is to increase commercial property ownership opportunities among smaller scale entrepreneurs challenged to meet the requirements for traditional financing programs. 

The commercial ownership fund is financing for business owners to buy and improve commercial space.  Borrowers must be a for-profit business registered with the State of Minnesota with a minimum of three years of operational revenue; have fewer than 100 employees and demonstrate hardship and need for the loan to complete a purchase or property renovation. The project size must be under $5 million and located within Hennepin County.  

Below are some questions to ask yourself if you are considering purchasing property and want to consider this loan: 

• Is the property in question located in Hennepin County?
• Will this property be used principally to house/support your operating business (retail space, production space, principal offices, etc.)?
• Does your business have 3+ years of Operating, Revenue-generating history (including 2+ years of business tax returns)?
• Is there a clear need for supportive non-traditional financing in order to complete the purchase?  

If you feel this loan is the right fit for you. Click learn more to understand more about the qualifications and next steps.