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Greetings!
Forty years ago, Southern Minnesota Initiative Foundation (SMIF) recognized that access to capital was essential for growing skills into businesses and strengthening communities. Traditional financing was often out of reach for small-town business owners, startups and local innovators, leaving good ideas and helpful neighbors without the support they needed to succeed. SMIF stepped in to fill that gap, offering loans paired with technical assistance.
SMIF gave its first loan to Neil Weaver to support his company, ABA Water Systems, in Plainview. The financial support changed the game for Neil and his family, who were able to use the loan on inventory. His company is now a third-generation operation, a legacy that still resides in Plainview today.
We hope you will join us in celebrating these forty years of support as we continue to uplift clients, offer resources and connect with partners for community strength and prosperity across our region.
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Mary Athey
Vice President of Entrepreneurship
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| Lending team welcomes Brandi and Molly | | |
SMIF's lending team recently added two new directors!
Brandi Grunzke, SMIF lending director of systems and compliance, brings nearly 10 years of experience in the financial industry, five years in banking with business deposits and lending and five years in retirement plan administration, giving her a well-rounded perspective on financial services and long-term planning. Read her full bio.
Molly Bartels Roth, SMIF lending director of partnerships and technical assistance, holds an MA in nonprofit management and social sector leadership from the University of Chicago Crown School of Social Work, Policy, and Practice. Most recently, Molly served as program manager, strategic response for IFF, a Midwest-wide community development financial institution that champions nonprofits to shape more equitable and vibrant communities. Read her full bio.
| | Loan helps open new facility | | |
SMIF recently closed a second loan with ONE Athletics, a fitness facility for youth, allowing them to move into a larger space.
"We were so excited to visit ONE Athletic's new facility," shared Marcia Haley, SMIF senior lending director. "From offering cross-training for kids, gymnastics training, Ninja training, as well as workout equipment for adults, there is something for everyone ages four to adult. And while they focus on strength and flexibility, they also build teamwork within groups and confidence in each student."
Learn more about SMIF's loan opportunities.
| | Connections were abundant at FEAST! | | |
SMIF partnered with Renewing the Countryside to host the FEAST! Local Foods Tradeshow, an exclusive local foods event that brings together wholesale buyers and food and beverage entrepreneurs to increase access to local foods for consumers, strengthen local food systems and build more resilient communities.
Sixty vendors attended for a day of learning and connecting. We are grateful to our partners and all of the people who came together to help lift up our local foods community. Check out the FEAST! food and beverage business directory to see participants.
| | Ideas took off at the Ignite Cup | | Pictured: First-place winners, ForkIt by DietMetrix in Mower County. Photo courtesy of IgniteMN | | |
The Ignite Cup, hosted by IgniteMN and supported by SMIF, is a chance for startup founders, entrepreneurs and small business owners in SMIF’s 20-county region to present their business ideas to a panel of experts.
"We are always impressed by the ingenuity of these entrepreneurs," shared Peggy Paul, SMIF entrepreneurship director. "They have put hours into their business and pitch. I can't wait to see where they will go next."
| | SMIF awards $99,865 in Economic Development Grants | | |
SMIF recently approved six grants totaling $99,865 to support economic development initiatives in SMIF’s 20-county region.
“Especially for our small towns, having the capacity to think holistically and long-term about community resiliency in the face of economic shocks is critical,” shared Benya Kraus, SMIF president and CEO. “We are proud to support the initiatives of these awardees, and the local leadership behind them.”
View the awardees.
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The following entrepreneurs are growing their businesses in southern Minnesota and have recently received loans from SMIF:
| | Website basics: build a site that works for you | | |
Wednesday, May 6
9 - 10:30 a.m.
Owatonna
Virtual option available
| | Your website is often the first impression customers have of your business — so it needs to look great, function smoothly and help people find you online. This free practical workshop is designed for small business owners who want to better understand the essential elements of an effective website without needing advanced technical skills. | | |
As we celebrate 40 years of impact, we invite you to help us invest in the future of entrepreneurs, children and communities.
Thanks to investment earnings, your gift will continue to grow and have an even greater impact on the region in years to come.
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Leave a lasting legacy with FreeWill, a free online tool to write your legal will at no personal cost to you.
This resource helps protect your family and friends, plan beneficiaries for your assets and support the causes and communities you love.
| | Southern Minnesota Initiative Foundation | 507-455-3215 | www.smifoundation.org | | | | |
