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. It is designed to support and increase BIPOC-led commercial real estate development in North Minneapolis by providing financial support for BIPOC-controlled development firms who build affordable commercial spaces.

Developers are eligible to receive loans ranging from $25,000 to $200,000 for the predevelopment and construction stages of a project. These short-term loans are intended to help build wealth for entrepreneurs who often struggle to access financial support and to help keep neighborhood small businesses in place. NEON also provides technical assistance in assembling the development team, preparing forms, and navigating the development process.