Entrepreneur Fund grant funding provided, and money appropriated.

This bill directs the state of Minnesota to provide a one-time grant of $1,000,000 from the general fund to the Entrepreneur Fund. The money is intended to help the fund offer loans to for-profit businesses in northeast Minnesota that are starting new ventures, expanding existing operations, or changing ownership. These loans aim to fill gaps in financing that these businesses cannot meet through other sources. The legislation specifically authorizes the commissioner of employment and economic development to use these funds for this purpose in fiscal year 2025.