PFund Foundation Announces $750,000 in New Funding for Grants Supporting Minnesota LGBTQ+ Small Business Owners
Members of the team who helped secure state funding to support the Equity Fund. From left, State Sen. Scott Dibble, Emma McBride, PFund Executive Director Aaron Zimmerman, 2022-23 Equity Fund grantee Belo Miguel Cipriani, Quorum Executive Director Rebecca Waggoner, Quorum board member Zaylore Stout.
FOR IMMEDIATE RELEASE
Contact:
Aaron Zimmerman, aaron@pfundfoundation.org, 612-870-1806
Kate Mohn, kate@pfundfoundation.org, 612-870-1806
Minneapolis, May 24, 2023–PFund Foundation is excited to announce a major expansion of its grantmaking to small Minnesota businesses owned and operated by LGBTQ+ entrepreneurs. This morning, Minnesota Governor Tim Walz signed the bill Senate File 3035 into law, which includes funding to support small business grants to small businesses owned and operated by LGBTQ+ entrepreneurs. PFund, along with Quorum (Minnesota’s LGBTQ+ and allied chamber of commerce), will provide capacity-boosting grants and trainings for queer entrepreneurs across the state.
A total of $750,000 will be appropriated to PFund Foundation over the next two years to provide grants to queer-owned small businesses. A minimum of one-third of grants funds will be distributed to Minnesotan queer entrepreneurs of color under PFund’s existing Equity Fund, one-third will be designated for queer businesses outside of the seven-county Twin Cities Metropolitan area, and one-third will be available to any queer-owned small businesses statewide.
“The passage of this bill demonstrates the value of investing in LGBTQ+ entrepreneurship,” stated PFund executive director Aaron Zimmerman. “I want to give special thanks to state Sen. Scott Dibble and Rep. Alicia Kozowski for championing the bill and Gov. Tim Walz for signing it. I also want to acknowledge the leadership in the legislature and all lawmakers who served as co-authors on the bill.”
PFund and Quorum will announce more information regarding the small business grants program later this summer.
About PFund: Founded in 1987, PFund Foundation builds equity with LGBTQ+ communities across the upper Midwest by providing grants and scholarships, developing leaders, and inspiring giving. PFund is the only LGBTQ+ community foundation serving the states of Minnesota, Iowa, Wisconsin, North Dakota, South Dakota, and the First Nations therein
Website: www.pfundfoundation.org
Linkedin, Facebook, Instagram: @PFundFoundation
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