Strategy in Action

The Northside Commercial Real Estate Revolving Loan Fund was developed through a partnership between the Northside Economic Opportunity Network (NEON) and Local Initiative Support Corporation. The fund was designed to support and increase BIPOC-led commercial real estate development in North Minneapolis by providing financial support for BIPOC-controlled, for-profit developers. Developers are eligible to receive loans ranging from $25,000 to $200,000 to assist during the predevelopment and construction stages. These short-term loans aim to prevent displacement vulnerability and help build wealth for entrepreneurs who often struggle to access financial support. NEON also provides technical assistance in assembling the development team, preparing pro formas, and navigating the development process.