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Jeff Aguy joined the GroundBreak Coalition in March 2024 to help implement solutions that will unlock unprecedented capital for aspiring entrepreneurs and commercial developers. A born entrepreneur, Jeff is helping build innovative systems and teams that will enable more financing to flow toward new and growing businesses and neighborhood commercial developments in the Minneapolis-St. Paul region and beyond. We interviewed Jeff to learn more about what he sees on the horizon for GroundBreak.

The following are frequently asked questions pertaining to the application.

The following are frequently asked questions pertaining to the application.

Mission Driven Finance and Broadstreet Impact Services unanimously selected by local Selection Committees to join the Minneapolis Foundation as financial managers of three major financial pools. Coalition is now seeking proposals for local originating partners to begin distribution of financial resources in 2025.

GroundBreak Coalition is seeking up to five (5) origination partners to make special purpose credit program loans to contribute to building Black wealth through commercial real estate developments, including mixed-use neighborhood developments with housing and other business developments. These origination partners (e.g., community lenders, CDFIs, and other financial intermediaries) are a crucial component of the GroundBreak new financial system. They will facilitate the flow of capital to developers who can build wealth for themselves and create equitable economic opportunities in underinvested communities.

GroundBreak Coalition is seeking up to four (4) origination partners to administer forgivable loans up to $50K each that support entrepreneurs committed to building Black wealth in the Minneapolis-St. Paul region, particularly those in the start-up growth phase. This funding, which come in the form of special purpose credit programs, will help replicate the traditional friends and family funding round with grants designed to unlock additional funding to drive entrepreneurs toward long-term growth, in doing so GroundBreak funds will propel racial wealth equity in our region.

As we find ourselves just past the mid-year point, the GroundBreak Coalition is inspired by our collective progress and ready to keep the momentum going. Together, we are on our way toward unlocking plentiful capital to expand wealth-building opportunities in our region – and toward keeping that capital flowing.

Jeff Aguy joined the GroundBreak Coalition in March 2024 to help implement solutions that will unlock unprecedented capital for aspiring entrepreneurs and commercial developers. A born entrepreneur, Jeff is helping build innovative systems and teams that will enable more financing to flow toward new and growing businesses and neighborhood commercial developments in the Minneapolis-St. Paul region and beyond. We interviewed Jeff to learn more about what he sees on the horizon for GroundBreak.

The Advancing Black Homeownership program was developed in partnership with aspiring and current homeowners and industry professionals in 2023. Supported by Twin Cities Habitat for Humanity and the Minnesota Homeownership Center, it helps mortgage-ready Foundational Black renters build generational wealth through homeownership. In 2024, the GroundBreak Coalition was proud to support Advancing Black Homeownership with an initial investment of $1.5 million in capital for the program, which expects to leverage support from multiple partners to provide down payment assistance for 110 new Black homeowners this year.