Our Story
1989
1998
1989 – The Entrepreneur Fund is founded to support economic growth on the Iron Range. At inception, classroom training, consulting and loans up to $25,000 were provided to individuals seeks to start a new business.
1992 – Designated a SBA Microlender
1998 – Designated a Certified Community Development Financial Institution (CDFI) by the U.S. Treasury Department
1998
2018
2010 – Designated a non-bank SBA 7a lender and Aeris rated. Aeris is a third-party rating on mission impact and financial health that is available to outside investors.
2013 – New loan products and lending partners were added, lending limits were increased to $250,000 and operational capacity was increased to further ensure that small businesses had the capital they needed to grow.
2018 – Added an additional SBA Women’s Business Center, serving Central MN. Increased lending limits to $750,000.
2018
2020
2020 – During the recent COVID-19 pandemic, EF stepped up and played a large role in providing emergency loans and services to clients across our region. The year also saw exponential growth in lending, with over $20 million in loans closed, one-quarter of all lending since 1989.
We strive to be nimble in meeting the current needs of our communities while strategically planning for a better future. We are dedicated to providing quality services from our growing team of experts who are committed to our clients success, as they define it.
Looking ahead, we are continuing to grow our capacity to provide quality services, and we are on pace for another record year of services and lending to small businesses across our region.
