Lending—With a Mission

As a certified Community Development Financial Institution, or CDFI, the Initiative Foundation works to create economic opportunity throughout Central Minnesota by lending funds to locally owned businesses. The Foundation’s lending initiatives play a crucial role in promoting economic development, revitalizing underserved communities, and fostering financial inclusion.

By providing access to capital and support to borrowers who may face barriers, CDFIs like the Initiative Foundation help to create opportunities for economic growth and empowerment in disadvantaged areas.

Helping Central Minnesota Prosper

Since its founding, the Initiative Foundation—powered by you and a host of regional, state and national partnerships—has witnessed the following results:

$499 Million

Investments leveraged through lead-bank partnerships

$66.1 Million

Gap, direct and microloan lending


Jobs created or retained

Find a Loan to Meet Your Needs

Initiative Foundation lending programs combine financial assistance with a social mission by providing borrowers with wrap-around supports to ensure their success.

Gap Loans

Gap lending at the Initiative Foundation is a partnership between the borrower, a lead lender and our lending team. Gap loans “fill the gap” between what a bank can provide and what the borrower needs to remain solvent on a business-investment project.

Direct Loans

By providing access to affordable capital and support, CDFIs like the Initiative Foundation help individuals and organizations overcome barriers, stimulate local economies, and foster greater inclusion in communities that have traditionally lacked access.


Initiative Foundation microloans provide an alternate financing option and play a crucial role in supporting entrepreneurship, fostering economic self-sufficiency, and creating opportunities for individuals and small businesses in underserved communities.

Technical Support for You

Lending programs at the Initiative Foundation go beyond just providing capital. We also provide technical support to help borrowers succeed. Support can come in many forms, from business planning and credit counseling to other forms of education to bolster borrowers’ financial and business-management capacity.

Meet the Lending Team

Loan officer Doug Adams helms the Initiative Foundation’s lending programs with portfolio management support from Carie Verley.


Minnesota-based CDFIs Hold First Convening

ST. CLOUD, Minn.–A majority of Minnesota’s 33 Community Development Financial Institutions (CDFIs) will send leaders and program staff to a kickoff convening of the first-ever… Read More

Adams Joins Expanded Business Finance Team

LITTLE FALLS, MINN.–The Initiative Foundation is expanding its capacity to provide regional small business lending with the addition of Doug Adams to the business finance… Read More

Voerding Named Vice President for Inclusive Entrepreneurship

LITTLE FALLS, MINN.–The Initiative Foundation, a regional foundation with a focus on economic and community development in the 14 counties of Central Minnesota, has announced… Read More

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